EUR Futures: room for some consolidation near term

According to preliminary data for EUR futures markets from CME Group, investors trimmed their open interest positions by around 15.5K contracts on Tuesday, the largest single day drop since June 19. In the same line, volume extended the choppy performance and shrunk by almost 10K contracts.

EUR/USD looks sidelined around 1.12

Tuesday’s bull run to the 1.1250 region and subsequent close below the 1.1200 handle was on the back of shrinking open interest and volume, leaving EUR/USD exposed to some consolidative mood around this area in the short-term horizon.