EUR futures: extra consolidation likely

CME Group’s advanced figures for EUR futures markets showed investors added just 24 contracts on Monday vs. Friday’s final 561,181 contracts, reverting four consecutive advances at the same time. In the same direction, volume rose by more than 17.8 contracts, reverting the previous drop.

EUR/USD looks to Powell for direction

The pair’s advance on Monday has been in tandem with muted activity in open interest and a decent uptick in volume, albeit by irrelevant levels. For the time being, EUR/USD is expected to remain sidelined in the very near term, particularly ahead of the upcoming testimony by Chief J.Powell.