EUR futures: cautious, looks to the ECB

CME Group’s advanced data for EUR futures markets saw investors marginally trimming its open interest positions by just 111 contracts on Wednesday vs. Tuesday’s final 445,018 contracts. On the other hand, volume rose sharply by almost 36K contracts.

EUR/USD rangebound ahead of ECB event

Yesterday’s strong advance and close beyond the 1.1800 handle has been accompanied by a marginal drop in open interest while volume rebounded sharply. The recent activity in open interest coupled with choppy price action in EUR/USD leaves the door open for further rangebound ahead of the ECB gathering. However, the increase in volume might add to the view that traders could be positioned for a bull run.