I know the front Eurodollar is most closely tied to 3Mo LIBOR fix published daily, as that is what it settles to. I also know information that affects expectations of very short term rate hikes will impact this rate (if prior to settle). This of course means economic numbers and fed actions.
However, I’ve heard there are other “obvious” drivers of its price. I am curious if this means OTC transactions? Naturally swaps and FRAs seem related, but I’m not sure if these matter since they are harder to observe for many market participants. Perhaps other farther out futures on the rates curve, even though those can be targeting farther out moves?
I am not looking to trade this, as I am still at University, I just want to understand this better and I don’t have the funds for all sorts of market data.
I am student, so I apologize if this is a trivial question with an obvious answer.