Euro futures hold at 1.1625 ahead of ECB meeting.

Todd Colvin of Mark IV Brokerage breaks down Euro futures as the currency holds near 1.1625 ahead of this week's European Central Bank meeting. Markets are currently pricing in a 25 basis point rate hike from the ECB, but attention remains focused on guidance regarding future policy if inflation remains elevated. Colvin highlights that despite upcoming risk events-including the ECB decision and U.S. CPI data-the CVOL index shows volatility dropping to three-week lows. Additionally, the latest Commitment of Traders data reveals speculators are covering net short positions, marking their smallest short exposure since mid-July.