EUR futures: dips appear shallow

Pablo Piovano FXStreet

In light of CME Group’s preliminary figures for EUR futures markets, investors added around 4.3K contracts to their open interest positions on Tuesday from Friday’s final 523,371 contracts. In the same direction, volume rose sharply by almost 36K contracts, reverting the previous drop.

EUR/USD a test of 1.13 not ruled out

EUR/USD is extending its sideline theme so far this week. Yesterday’s drop and rebound from weekly lows was accompanied by rising open interest and volume. That said, the broad consolidative scenario looks unchanged although a potential visit to the 1.1300 scenario still remains on the cards.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

EUR/USD faces next resistance near 1.1930

EUR/USD continues to build on its recovery in the latter part of Wednesday’s session, with upside momentum accelerating as the pair retargets the key 1.1900 barrier amid a further loss of traction in the US Dollar. Attention now shifts squarely to the US data docket, with labour market figures and the always influential CPI releases due on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.