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<p>Headlines:</p><ul><li><a href="https://www.forexlive.com/news/dollar-begins-to-flex-its-muscles-on-the-session-20240205/">Dollar begins to flex its muscles on the session</a></li><li><a href="https://www.forexlive.com/news/the-bond-market-remains-a-key-focus-in-trading-this-week-2

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<p>Both the euro and pound are now down 0.3% against the dollar on the day. While EUR/USD is <a href="https://www.forexlive.com/news/dollar-holds-steady-so-far-in-the-new-week-20240205/" target="_blank" rel="follow">poised for a downside break</a>, GBP/USD looks to be doing the same as it trades below

<ul><li>2024 global growth forecast seen at 2.9% (previously 2.7%)</li><li>2024 US growth forecast seen at 2.1% (previously 1.5%)</li><li>2025 US growth forecast seen at 1.7% (unchanged)</li><li>2024 Eurozone growth forecast seen at 0.6% (previously 0.9%)</li><li>2025 Eurozone growth forec

<ul><li>Prior -0.3%</li></ul><p>On the year itself, producer prices declined by nearly 9% but it owes largely to a drop in energy prices i.e. base effects. Looking at the details, only the prices for intermediate goods (-4.9%) declined alongside energy prices (-27.5%) last year. Instead, price increases were recorded f

<ul><li>Prior -15.8</li><li>Expectations -5.5</li><li>Prior -8.8</li></ul><p>Eurozone investor morale rises for a fourth straight month to its highest since last April. The expectations index also improved for a fifth straight month to its best since February last year. While the recovery proces

<ul><li>Prior 53.4</li><li>Composite PMI 52.9 vs 52.5 prelim</li><li>Prior 52.1</li></ul><p>The headline reading is the highest in eight months as UK business activity picks up further to start the new year. Adding to the good news is that inflation pressures are seen easing and that will help t

<p>It's mostly a quiet start to proceedings in European trading today. The dollar continues to hold steady, maintaining its run higher from Friday after the strong US jobs report. <a href="https://www.forexlive.com/news/the-bond-market-remains-a-key-focus-in-trading-this-week-20240205/" target="_blank" rel="fo

<ul><li>Domestic sight deposits CHF 470.5 bn vs CHF 463.2 bn prior</li></ul><p>That's a notable jump in sight deposits but it isn't one that is too significant for the time being. If anything, it just reaffirms that the trend of lower deposits is over now that the SNB has moved to the sidelines on the policy

<ul><li>Prior 48.8</li><li>Composite PMI 47.9 vs 47.9 prelim</li><li>Prior 47.6</li></ul><p>The readings match up with the initial estimates as the Eurozone economy continues to contract to start the new year. Overall, business activity and new orders softened but growth expectations strengthene