EUR futures: further consolidation ahead

In light of advanced figures for EUR futures markets from CME Group, open interest decreased by around 4.6K contracts on Thursday vs. Friday’s final 511,001 contracts. On the other hand, volume rose by more than 13K contracts.

EUR/USD supported around 1.2300

Yesterday’s strong decline in EUR/USD was against the backdrop of shrinking open interest although volume ticked up moderately. That said, there is no change to the broad-based consolidative theme that has been prevailing in recent weeks, likely between 1.2150 and 1.2550.