Euro futures rally on soft U.S. CPI data

Euro futures reversed early losses to rally following a softer-than-expected U.S. CPI print, reaching a high of 1.1460 before settling near 1.1425. The session's gain erased the previous day's decline. Meanwhile, Euro volatility reversed its recent uptick, with the CVOL index falling back toward six-month lows. In positioning, speculators exited net long positions and flipped to net short, marking their most bearish stance since February 2025.