Eurodollar Futures

MacroVar monitors the Eurodollar futures market to monitor market expectations for central bank monetary policy (rate hikes/cuts), financial markets and economic outlook.

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Eurodollar futures are interest-rate financial futures contracts specific to the Eurodollar, which is a U.S. dollar deposit in commercial banks outside of the United States. Eurodollar plays a major role in the global financial markets. The interbank market for offshore dollars is very liquid, providing banks with the ability to fund dollar loans.

Eurodollar futures active contracts

Eurodollar Futures Contract Contract Symbol
Eurodollar December 2022 Futures Eurodollar.edz22
Eurodollar March 2023 Futures Eurodollar.edh23
Eurodollar June 2023 Futures Eurodollar.edm23
Eurodollar September 2023 Futures Eurodollar.edu23
Eurodollar December 2023 Futures Eurodollar.edz23
Eurodollar March 2024 Futures Eurodollar.edh24
Eurodollar June 2024 Futures Eurodollar.edm24
Eurodollar September 2024 Futures Eurodollar.edu24
Eurodollar December 2024 Futures Eurodollar.edz24
Eurodollar March 2025 Futures Eurodollar.edh25
Eurodollar June 2025 Futures Eurodollar.edm25
Eurodollar September 2025 Futures Eurodollar.edu25
Eurodollar December 2025 Futures Eurodollar.edz25
Eurodollar March 2026 Futures Eurodollar.edh26
Eurodollar June 2026 Futures Eurodollar.edm26
Eurodollar September 2026 Futures Eurodollar.edu26
Eurodollar December 2026 Futures Eurodollar.edz26
Eurodollar March 2027 Futures Eurodollar.edh27
Eurodollar June 2027 Futures Eurodollar.edm27
Eurodollar September 2027 Futures Eurodollar.edu27
Eurodollar December 2027 Futures Eurodollar.edz27
Eurodollar March 2028 Futures Eurodollar.edh28
Eurodollar June 2028 Futures Eurodollar.edm28
Eurodollar September 2028 Futures Eurodollar.edu28
Eurodollar December 2028 Futures Eurodollar.edz28
Eurodollar March 2029 Futures Eurodollar.edh29
Eurodollar June 2029 Futures Eurodollar.edm29
Eurodollar September 2029 Futures Eurodollar.edu29
Eurodollar December 2029 Futures Eurodollar.edz29
Eurodollar March 2030 Futures Eurodollar.edh30
Eurodollar June 2030 Futures Eurodollar.edm30
Eurodollar September 2030 Futures Eurodollar.edu30
Eurodollar December 2030 Futures Eurodollar.edz30
Eurodollar March 2031 Futures Eurodollar.edh31
Eurodollar June 2031 Futures Eurodollar.EDM31
Eurodollar September 2031 Futures Eurodollar.EDU31
Eurodollar Pit Dec '31 Futures US3MLIBORF.EDZ31
Eurodollar March 2023 Futures US3MLIBORF.EDH32
Eurodollar June 2023 Futures US3MLIBORF.EDM32
Eurodollar Jan 2023 Futures US3MLIBORF.EDF23
Eurodollar February 2023 Futures US3MLIBORF.EDG23
Eurodollar September 2032 Futures US3MLIBORF.EDU32
Eurodollar April 2023 Futures Eurodollar.EDJ23
Eurodollar May 2023 Futures Eurodollar.EDK23

What Are Eurodollar Futures?

The price of Eurodollar futures reflects the interest rate offered on U.S. dollar-denominated deposits held in banks outside the United States. The price reflects the market gauge of the 3-month U.S. dollar LIBOR interest rate anticipated on the settlement date of the contract.

Hence, Eurodollar futures are a LIBOR-based derivative, reflecting the LIBOR for a 3-month $1 million offshore deposit. 

Eurodollar futures prices are expressed numerically using 100 minus the implied 3-month U.S. dollar LIBOR interest rate.

For example, if an investor buys 1 Eurodollar futures contract at $96.00 and the price rises to $96.04, this corresponds to a lower implied settlement of LIBOR at 3.96%. The buyer of the futures contract will have made $100.