EU Trade Commissioner Sefcovic says US counterparts have reassured the EU that they will stand by the trade deal, European Parliament should target a vote to approve the deal in March

• EU is discussing prospects of high level engagement with China this year.

The reassurance from the US regarding the trade deal reflects a commitment to transatlantic relations, which can foster stability in the EUR/USD pair. The mention of potential high-level engagement with China may also indicate a shift towards more proactive diplomacy, potentially impacting global trade sentiment and risk appetites. Watch for shifts in forex markets, particularly in the USD and EUR, as these developments unfold.