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Happy Phase One trade deal day, everyone! Hope you're all doing well as we get things going in the European morning session today. It's been a bit of a slower start to proceedings as markets are staying more calm ahead of the US-China trade deal signing later.
Major currencies are little changed, although the pound is keeping mild gains above the 1.3000 handle against the dollar while the franc is keeping steady after a modest advance in trading yesterday - with EUR/CHF lingering at levels last seen in April 2017.
Stocks and bonds aren't doing a whole lot as the focus remains on the key risk event in Washington later at 1630 GMT, with traders and investors also keeping a close watch on the release of the details of the Phase One trade deal.
As such, I would expect markets to keep more steady in the hours ahead but just keep an eye on the pound as we have UK inflation data to get through in the session ahead.
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