EU trade commissioner Phil Hogan is visiting Washington today

US EU

Hogan's visit will be from 14-16 January and he is set to meet up with the likes of Robert Lighthizer and Wilbur Ross to "take temperature" on trade matters.

The two main issues are France's new digital tax and Airbus backing by Europe, so it'll be interesting to see how they can get along to avoid further escalation down the road.

As things stand, this hasn't blown up into a major risk component for markets and the euro but just bear in mind that we could get some headlines that could temper with the mood over the next few days of trading.