Open interest in EUR futures markets rose significantly by nearly 14K contracts on Thursday from Wednesday’s figures, according to preliminary figures from CME Group. In the same line, volume increased by around 275.5K contracts. It was the largest single day build so far this year in both open interest and volume.
EUR/USD now looks to 1.1118
EUR/USD met extra selling pressure in the wake of the mega-dovish tone from the ECB yesterday, breaking below the 1.1200 handle and recording fresh 2019 lows at the same time. Rising open interest and volume coupled with declining prices notes the increasing presence of sellers in the market, opening the door for further retracements in the near term.
Share
