EUR futures: neutral bearish near term

According to CME Group’s advanced figures for EUR futures markets, investors scaled back their open interest positions by more than 1K contracts on Friday from Thursday’s final 505,928 contracts. In addition, volume rose by nearly 11.5K contracts.

EUR/USD could still grind lower

Friday’s up move in EUR/USD was in tandem with rising volume and a drop in open interest, leaving the door open for further rangebound in the near term, while a potential test of recent lows in the 1.1330 region and below are not ruled out.