EUR futures: bullish ahead of ECB

CME Group’s preliminary figures for EUR futures markets showed open interest rose by around 17K contracts on Wednesday vs. Tuesday’s 599,561 contracts, recording the second build in a row. In the same direction, volume rose once again, this time by more than 235K contracts (the largest build since May 29).

EUR/USD cautious, looks to ECB

The ongoing up move in EUR/USD has surpassed the 1.1800 handle so far today, all against the backdrop of increasing open interest and volume. This bullish signal hints at the fact that extra upside could be in the pipeline, although the imminent ECB meeting should put the upside to the test.