EUR futures: open interest up by 11K on Tuesday

According to CME Group, preliminary figures for Wednesday are showing futures traders kept building up business in EUR during the first half of the week, reinforcing somewhat the recovery vs. the buck seen since Monday.

Open Interest more than doubled from Tuesday

CME Group shows open interest is seen increasing by 11,219 contracts today, up from Tuesday’s final figures showing an increase of 4,969 contracts. The up move is coincident with the bounce off Friday’s lows in the 1.1160 region through the key barrier at 1.1200 the figure and beyond.

The main near term risk for the ongoing up move in spot is today’s critical US inflation figures and the more relevant FOMC meeting.