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In light of preliminary data for EUR futures markets from CME Group, investors added just 278 contracts to their open interest positions on Wednesday vs. Tuesday’s 496,665 contracts. In the same line, volume rose by around 25.3K contracts.

EUR/USD cautious ahead of the ECB

EUR/USD managed to rebound and regain the 1.1700 handle and above following a sell off in the buck on easing trade jitters. However, the up move run out of steam in the mid-1.1700s amidst a marginal build in open interest and the second consecutive increase in volume, leaving the door open for further consolidation at least ahead of the ECB event later in the day.