After a quiet start to the.......>

US EURODLR FUTURES: After a quiet start to the week, Eurodollar futures began to

move higher ahead of Fed Chair Powell's testimony on Tuesday before drifting

higher still following a weak housing starts print. Wednesday saw the Eurodollar

strip hit its peak of the week before increased optimism surrounding Brexit

helped pull the strip lower with most of the move happening between

8:30-10:00ET. The strip was generally flat through the rest of the day and into

Thursday when a better than expected GDP print and MNI Chicago PMI print saw

another decent move lower for the strip. Friday trading has seen the strip

continue to grind lower albeit with a brief tug higher from a poor ISM print.

- The Eurodollar curve has steepened in the White area (H9-Z9) with the rest of

the strip 3-4 ticks lower. The biggest moves were seen in the U0-U1 area.

- From its nadir earlier in the weeks the EDZ9/EDZ0 spread rose from -0.21 to

-0.15 now. Levels out the strip have been under pressure since Wed but the front

end has been well supported as 3M LIBOR continues to recede.

- The week ahead sees some more housing data among the highlights with payrolls

at the end of the week the big event of the week.