EUR futures: dips to remain shallow

In light of CME Group’s flash data for EUR futures markets, investors added 491 contracts to their open interest positions on Monday vs. Friday’s 492,604 contracts. On the opposite side, volume retreated significantly by more than 119K contracts.

EUR/USD well supported around 1.18

After two consecutive sessions with losses, EUR/USD keeps struggling for direction on Tuesday in the 1.1860 area. The recent small up tick in open interest coupled with a sharp decrease in volume hints at the likeliness that occasional pullbacks in spot appear to be shallow, at least in the near term.