EUR futures: further rangebound likely

According to CME Group’s preliminary data for EUR futures markets, open interest rose by more than 3.5k contracts on Friday vs. Thursday’s final 464,843 contracts. Volume recorded its second consecutive gain, up by more than 19.1K contracts.

EUR/USD stays wary of the ECB

After a quick spike to the 1.1980 area post-payrolls on Friday, EUR/USD lost momentum soon afterwards and closed the day in the negative territory. Risk-off trade is back in the markets on Monday thanks to North Korea, giving spot some tailwinds beyond the 1.1900 handle.

However, choppy activity in open interest, volume and price action suggests that a continuation of the sideline theme appears most likely in the near term, at least until the key ECB gathering on Thursday.