It has been a busy week for Euribor.........>

EURIBOR: It has been a busy week for Euribor futures with the end of 2018 and

start of the year seeing the Euribor strip move higher. The peak was reached

shortly after Europeans got into the office on the day of the FX flash crash as

sentiment troughed.

- Since then, risk has recovered somewhat in spite of some mixed PMI data and

more disappointing inflation data and the Euribor strip has pared some of its

gains. A better than expected US employment report and some upbeat comments from

Fed Chair Powell helped Euribor futures close the week on the back foot.

- White contracts are generally around 1-1.5 ticks lower on the week now and

Reds are largely unchanged on the week. However, the rally has not been fully

retraced further out with Greens 1-2.5 ticks higher and Blues 3-5 ticks higher.

- The upcoming week will see German and Euro retail sales data released while IP

data from the big four economies and the Accounts of the ECB's Dec meeting

complete the domestic highlights. However, external factors are likely to be the

larger drivers in the week ahead. There are a number of Fed speakers including

Powell while the UK parliament is due to begin to debate the Brexit deal.