EUR futures: up ticks remain a sell

CME Group’s advanced data for EUR futures markets showed open interest rose by nearly 9K contracts on Monday vs. Friday’s final 468,897 contracts. Volume, instead, dropped for the second session in a row by more than 18K contracts.

EUR/USD further upside appears unconvincing

EUR/USD is now eroding yesterday’s advance to levels beyond the key barrier at 1.1800 the figure. The up tick has been in tandem with higher open interest, although the pullback in volume removed some tailwinds from the up move.

In the very near term, price action remains far from convincing and allows for extra consolidation ahead of the Jackson Hole Symposium on Thursday and Friday.