EUR futures: further consolidation likely

CME Group’s flash data for EUR futures markets showed investors scaled back their open interest positions by nearly 3K contracts on Tuesday vs. Monday’s final print at 468,666 contracts. Volume followed suit, down by a marginal 286 contracts.

EUR/USD choppiness poised to continue

There is no change in the near term stance for EUR/USD, which is expected to extend its consolidative theme, all against the backdrop of alternating trends in both open interest and volume.

Looking ahead, the Jackson Hole Symposium and particularly the speeches by ECB’s Draghi and Fed’s Yellen will be critical for the pair in the very near term.