Newbie type question

What's the difference between financial futures (i.e. eurodollar) versus forex (i.e. USD/EUD) ?
Conceptually, do they move in tandem?

Thanks
E
 
Be careful when you say Eurodollar! Eurodollar is a US dollar deposit outside of the US, so it's a short-term interest rate product not a FX product.

Euro FX, which also trades on the CME, is the futures contract on the EUR/USD currency pair.

EUR/USD pair is the spot market while the Euro FX futures is the forward market. So while the two do move together the futures have a carry component and thus basis risk.
 
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