In light of preliminary figures for EUR futures markets from CME Group, open interest dropped by only 31 contracts on Thursday vs. Wednesday’s final 530,541 contracts. Volume, instead, rose sharply by more than 152.1K contracts, the largest daily increase so far this year.
EUR/USD still under pressure
After recording fresh yearly lows in the 1.1290 region yesterday, EUR/USD has now regained the 1.1300 handle and above amidst a marginal drop in open interest, while the significant build in volume adds to the probability of a continuation of the squeeze higher in the near term.
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