EUR futures: rangebound, albeit cautious

In light of CME Group’s advanced data for EUR futures markets, open interest declined by a meagre 490 contracts on Thursday vs. Wednesday’s 463,935 contracts. In addition, volume advanced for the third consecutive day, this time by more than 23.3K contracts.

EUR/USD points to further consolidation

EUR/USD is extending the sideline theme so far today, with gains capped around the 1.1800 handle and pullbacks finding support in the 1.1680/60 band for the time being. Choppy activity in open interest so far this week coupled with fading momentum in the price action opens the door for further rangebound in the near term. However, increasing volume amidst declining prices should prompt some warnings among traders.