EUR futures: decline appears unsustainable

According to CME Group’s advanced data for EUR futures markets, open interest rose by more than 1.4K contracts vs. Tuesday’s final461,152 contracts. Volume, in the meantime, rose for the second consecutive session.

EUR/USD correction lower lacks conviction

Choppy trade for EUR/USD so far this week. Yesterday’s up move in spot stays within the weekly bearish scenario, although the rise in volume and open interest implies that bulls have done everything but given up on EUR for the time being, supporting at the same time the ‘buy the dips’ view.