EUR Futures: Look consolidative near-term

Open interest in EUR futures markets rose for the fourth consecutive session on Monday, this time by nearly 19.8K contracts according to preliminary data from CME Group. On the other hand, volume shrunk for the second session in a row, this time by around 252.6K contracts.

EUR/USD expected to remain side-lined

EUR/USD’s uptick at the beginning of the week was amidst the continuation of the uptrend in open interest, while volume extended the drop. Against this, further rangebound looks the most likely scenario, at least in the short-term horizon.