Euro futures reversed last week's slide and rallied.

Euro futures moved higher to start the week, reversing a four-session losing streak and testing the 1.17 level as the U.S. dollar saw a pullback in strength. Despite backing off intraday highs to close at 1.1675, the currency benefited from significant speculator interest. Recent data indicates that speculators have increased net long positions to their highest levels since August 2023. Additionally, volatility as measured by the CVOL index ticked higher as the market reversed its recent trend.