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After a weak start to the........>

US EURODLR FUTURES
US EURODLR FUTURES: After a weak start to the week, Eurodollar futures began to
move higher in early US trading on Tuesday, largely fuelled by a drop in the 3m
LIBOR rate, but also against a backdrop of uncertainty as the market awaited the
outcome of the UK parliament's first Brexit vote. A marginally softer than
expected CPI print also contributed to the push higher.
- The UK parliament voted against PM May's Brexit deal on Tuesday around
19:15GMT and the Eurodollar strip was largely rangebound through Wednesday and
Thursday.
- Data on Friday was soft with both Empire manufacturing and manufacturing
production weaker than expected, while a poor Canadian existing home sales print
sandwiched between the two releases did not help sentiment.
- Greens and Blues have just broken above their recent ranges, hitting their
highest levels since the brief move higher on Jan3/4. Excluding these two days,
these contracts were at their highest levels since the second half of 2017.
- Note that the H9 contract expires with Monday's 3m LIBOR settle. All quarterly
colours will shift forward one contract.

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