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What is the correlation, if any, between the price of the spot fx eurodollar, and the eurodollar futures contact(6E)? Does either meaningfully lag the other?
Can you help answer these questions from other members on NexusFi?
Imho correlation is effectively 1.0, some technical setups will show breaks by 1 or 2 pips in one but not the other, largely irrelevant, no meaningful lag, spot is the 'master' in terms of massive volumes, downside of watching a spot feed is monumental flickering noise. Just my 2c.
This was my assumption, too, given the size and breadth of the global spot fx thing. I simply thought if there was some lag, the futures being derivative of the actual market (are they???), that a move in the forex might signal a subsequent move in the futures contract. I suspect that if it were true, somebody else would already be selling a course about it!
