EUR futures: rangebound appears likely
|CME Group’s advanced data for EUR futures markets saw open interest retreating by nearly 2.3K contracts on Thursday, down from Wednesday’s final reading at 460,732 contracts. Regarding volume, the activity decreased by more than 25K contracts. Both open interest and volume keep running below the monthly average for the time being.
EUR/USD consolidative near-term
EUR/USD is extending its sideline theme so far this week, finding decent support in the 1.1690/80 band while gains stay capped by the 10-day sma just below 1.1800 the figure.
Open interest has been decreasing since Monday amidst choppy volume and sidelined price action, leaving the near term picture unconvincing and pointing to a continuation of the current pattern. However, today’s release of US inflation figures should prove to be crucial for the pair’s direction in the near term.
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