OPEN-SOURCE SCRIPT

FX Rate Bias US vs EU 2Y

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FX Rate Bias – US vs EU (2Y)

This indicator provides a macro bias framework for FX markets by tracking the 2-year government bond yield differential between the United States and Germany.

Rather than displaying the spread as a raw calculation, the script translates interest-rate expectations into a clear directional bias, helping traders understand which currency currently holds a rate advantage.

The 2Y segment of the yield curve is highly sensitive to:

Central bank expectations

Forward guidance

Shifts in short-term monetary policy outlook

How to use

Positive spread → USD rate advantage

Negative spread → EUR rate advantage

Designed to be used as a contextual macro tool, this indicator helps align technical setups with broader monetary conditions.
It is not intended as a standalone entry or signal generator.

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