Euro Markets: EUAs bounce back as traders build new length ahead of EU 2024 target news

European carbon prices bounced back at the start of the new quarter, wiping out Monday's loss as speculative traders that had been stopped out of long positions during the price decline of the previous four days began to amass new length, with prices getting an additional lift from a rally in energy markets, while participants awaited the European Commission's announcement of a proposed 2024 climate target.