EUR futures: consolidation poised to persist

Open interest in EUR futures markets rose by around 7.3K contracts on Tuesday from Monday’s final 482,735 contracts, according to preliminary figures from CME Group. In the same line, volume rose significantly by around 60.2K contracts.

EUR/USD seen sidelined

Tuesday’s doji-like candle in EUR/USD was accompanied by rising open interest and volume, hinting at the likeliness that the current rangebound pattern could extend further in the near term. As usual, Italian politics and the Brexit negotiation emerge as the key drivers for the price action.