Eurodollar futures have been.....>

US EURODLR FUTURES: Eurodollar futures have been mainly driven by global risk

sentiment which in turn has largely been influenced by US-China trade talks.

- After a quiet Monday, the Eurodollar futures strip sold off a little on

Tuesday as risk rallied but this move was completely reversed on Wednesday. The

FOMC Minutes contained little surprise although equities were boosted by the

statement that patience was "warranted for some time".

- Thursday saw the Eurodollar strip climb higher initially ahead of the US

session following some disappointing German and Eurozone PMIs and a

disappointing German IFO. The strip moved higher still on the back of an equally

weak US manufacturing PMI with a lack of liquidity ahead of the Memorial Day

holiday weekend. The strip exceeded levels seen around the end of March

following the dovish FOMC meeting and at Brexit peak-pessimism.

- Some of this sell off was retraced after the close on Thursday and only small

moves were seen on the Friday as UK PM May announced her resignation.

- On the week, Whites (M9-H0) are unch to 7 ticks higher with the rest of the

strip 7-9.5 ticks higher.