EUR futures: consolidation likely near term

Preliminary figures for EUR futures markets noted investors scaled back their open interest positions by nearly 7.9K contracts on Thursday from Wednesday’s final 493,906 contracts. On the other hand, volume increased by almost 26.5K contracts.

EUR/USD appears sidelined below 1.1400

The upside momentum in EUR/USD has eased somewhat in past hours in tandem with decreasing open interest while volume kept ticking higher. That said, the recent inability to hold the trade above the 1.1400 handle prompts some consolidation around current levels.