A respite for risk appetite through the........>

STIR: A respite for risk appetite through the Asian session and European morning

has seen STIR futures retrace some of their gains, helped by the Chinese RRR cut

- The Eurodollar strip has seen the biggest moves with Whites 1.5-4.5 ticks

lower, Reds 4-5.5 ticks lower and Greens and Blues 6-7.5 ticks lower. This still

leaves the whole strip higher than a week ago, however, with Reds, Greens and

Blues 15-19 ticks higher on the week.

- The Short Sterling strip has been helped further by a better than expected UK

PMI services print. Whites are 1-2.5 ticks lower, Reds 3-3.5 ticks lower and

Greens and Blues 4-5 ticks lower.

- The Euribor strip has also moved lower despite some mixed PMI services

releases and a weaker than expected French, Italian and Eurozone CPI prints.

Reds are 1-2 ticks lower with Greens and Blues 2-2.5 ticks lower while Whites

remain largely unchanged on the day.

- The major data has now all been released for the day in Europe and focus will

switch to the US employment report at 13:30GMT and Fed Chair Powell's panel

appearance at 15:15GMT.