EUR futures: scope for further consolidation

CME Group’s flash data for EUR futures markets showed traders added around 1.1K contracts to their open interest positions on Thursday vs. Wednesday’s final 525,546 contracts. In the same line, volume rose by more than 8.3K contracts following the previous sharp drop.

EUR/USD seen rangebound so far

EUR/USD is extending the sideline theme around the 1.1400 handle, the lower bound of the weekly range, amidst an uptick in both open interest and volume. That said, extra consolidation is thus expected, at least in the short-term horizon.