EUR futures: further weakness remains on the cards

CME Group’s preliminary figures for EUR futures markets noted investors added just 792 contracts to their open interest positions on Wednesday, extending the broader uptrend prevailing since May 16. Volume, instead, shrunk by around 18.8K contracts, prolonging the choppy performance.

EUR/USD still looks to 2019 lows

The leg lower in EUR/USD stays well and sound so far this week. Increasing open interest coupled with declining prices opens the door for further pullbacks with immediate target at YTD lows in the 1.1100 neighbourhood.