EUR Futures: rallies look limited
|CME Group’s flash data for EUR futures markets noted investors reduced their open interest positions by around 3.2K contracts on Wednesday following two consecutive builds. In the same line, volume shrunk by nearly 36.6K contracts, extending the choppy activity.
EUR/USD: a move to 1.1050 remains on the cards
EUR/USD managed to close Wednesday’s session with small gains amidst shrinking open interest and volume, noting the presence of short covering behind the daily move. That loss of upside momentum in past sessions opens the door to a probable move to the 55-day SMA in the mid-1.10s in the near term.
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