EUR futures: correction lower expected to continue

In light of preliminary figures for EUR future markets from CME Group, open interest rose significantly by around 26.5K contracts on Tuesday from Monday’s final 575,595 contracts. In the same line, volume rose sharply by around 172K contracts, the largest daily increase since May 29.

EUR/USD door open for extra downside

EUR/USD keeps the choppy trade so far this week against the backdrop of rising open interest and volume, allowing for further downside in the near term. The next big risk event in EUR will be tomorrow’s ECB meeting.