EUR futures: upside appears tepid

In view of advanced data for EUR futures markets from CME Group, open interest retreated by more than 5.6K contracts on Thursday vs. Wednesday’s final 566,803 contracts. On the other hand, volume increased significantly by nearly 52K contracts, partially reverting the previous day’s drop.

EUR/USD rallies capped above 1.2300

Thursday’s strong rebound in EUR/USD run out of steam in the vicinity of 1.2280/70 area and it has been on the back of a drop in open interest and a moderate pick up in volume. Occasional bullish attempts in spot should remain limited above the 1.2300 handle, where converge the 10- and 21-day sma.