Morning Comment

Risk-off tone this morning following President’s Trump’s orders to launch military strikes against Syria in response to the chemical weapon attack last Tuesday. As tensions rise between Russia and the US over Syria, President Trump welcomes Chinese President Xi Jinping, commenting “we’re going to have a very, very great relationship”. On the data front, we saw strong German Industrial Production figures this morning (in at 2.2% vs. -0.2% exp.), with UK IP and trade balance out this morning and we have non-farms in the US this afternoon.


Euro/Dollar: Holding above support at the 100-day moving average at ~1.0624.


Euro/Sterling: Trading below the 100-day moving average at ~0.8554.