Euro futures rallied as the U.S. dollar weakened. 1/5/26

Euro futures experienced a significant reversal after an early decline to 1.1660, eventually closing near 1.1725 as the U.S. dollar weakened amid easing geopolitical tensions. Market participants shifted their focus toward upcoming U.S. non-farm payroll data and its potential impact on Federal Reserve rate expectations. Additionally, volatility remained elevated while CFTC data indicated that speculators slightly reduced net long positions, though holdings stayed near the highest levels seen since August 2023.

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