In light of preliminary figures for EUR futures markets from CME Group, investors trimmed their open interest positions by around 1.2K contracts on Friday from Thursday’s final 562,295 contracts. In the same line, volume recorded the larges drop so far this year, down by 332.3K contracts.
EUR/USD still scope for a test of 1.1745/50
EUR/USD is recovering part of the ground lost at the end of last week. The recent sharp drop in volume along with lower volume opens the door for a continuation of the recovery and a potential test of the key hurdle at the 1.1745/50 band.
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