EUR futures: further rangebound likely

According to CME Group’s preliminary figures for open interest in EUR futures on Friday, traders scaled back their positions by just 435 contracts vs. Thursday’s final figures at 428.056 contracts.

Dips appear shallow

EUR/USD still gravitates around the 1.1400 handle on Monday against the backdrop of flattening volume from open interest. While Friday’s correction lower seems logical following the bid around the buck in the wake of non-farm payrolls, further gains beyond 1.1450 still remain elusive, extending the consolidative theme at least in the very near term.