EUR futures: rebounds stay tepid

CME Group’s flash data for EUR futures markets showed open interest rose by nearly 1.7K contracts on Tuesday vs. Monday’s 437,365 contracts. Volume, instead, continued to decrease, this time by almost 15.5K contracts, recording at the same time the fifth consecutive decline and the lowest level since September 18.

EUR/USD still focused on 1.1660

EUR/USD is recording its second consecutive advance today in response to a continuation of the offered bias surrounding the buck. However, a test/surpass of the 1.1800 handle still remains elusive for EUR-bulls.

The persistent decline in volume coupled with unclear direction in prices and a lackluster advance in open interest keep the door open for a potential test of August’s lows in the 1.1660 region.

Key for the pair’s direction in the near term will be tomorrow’s ECB minutes and Friday’s US non-farm payrolls.