In light of CME Group’s preliminary data for EUR futures markets, open interest dropped by just 2 contracts on Tuesday from Monday’s final 484,061 contracts. On the flip side, volume rose sharply by nearly 99.4K contracts.
EUR/USD scope for a move higher
EUR/USD bottomed out at 1.1430 on Tuesday and managed to rebound and close just above 1.1500 the figure. The bounce was on the back of steady open interest while a sharp increase in volume appears to have sustained the move and opens the door for some extra gains in the very near term.