EUR futures: upside running out of steam?

According to CME Group’s preliminary data for EUR futures markets, open interest dropped by more than 1.8K contracts on Monday vs. Friday’s final reading at 526,088 contracts. In the same line, volume decreased sharply by over 172K contracts.

EUR/USD cautious ahead of FOMC

EUR/USD is advancing firmly for the fourth straight session so far, although the recent activity in open interest and volume (both shrinking) suggests that the up move could be running out of steam, particularly ahead of the FOMC meeting due tomorrow.