EUR futures: under pressure, looks to ECB

CME Group’s advanced data for EUR futures markets saw open interest dropping by more than 1.7K contracts on Friday vs. Thursday’s final 451,799 contracts. On the other hand, volume increased significantly by nearly 50K contracts.

EUR/USD holding on to 1.1780

EUR/USD seems to have found decent support around the 1.1780 area today (coincident with the key 10-day sma) following Friday’s ‘indecision candle’. The drop in open interest is at odds with those who expects deeper pullbacks in spot, although the sharp increase in volume leaves at the same time the door open for further selling pressure.