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EURIBOR: Futures Respect Key Resistance, ECB Cutting Path Looks Steep

EURIBOR

We have already noted that the current ECB market-implied rate path remains more aggressive than the once-per-quarter baseline held by at least several GC members.

  • Technical analysis on Euribor contracts adds to this idea.
  • ERH5 has respected it’s early August high so far, while late ’23/early ’24 highs have helped cap rallies further out the strip.

Fig. 1: Euribor Mar ’25 & Dec ’25 Contracts (ERH5 & ERZ5)

Source: MNI - Market News/Bloomberg

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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