EUR/USD
1.18283
0.091%
Gold
5074.03
2.581%
Oil
62.904
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USD/JPY
156.422
0.415%
GBP/USD
1.37275
0.218%
GBP/JPY
214.733
0.642%
Real-time News
February 4th - Data shows that the Eurozone economy slowed for the second consecutive month in January, with demand nearly stagnant and hiring halted, leaving the start of 2026 still fragile. The Eurozones composite PMI fell to 51.3 in January from 51.5 in December, hitting a four-month low and also below the initial reading of 51.5. Cyrus de la Rubia, chief economist at Commerzbank Hamburg, stated, "The growth trajectory can be described as acceptable, but the situation remains challenging. Companies made almost no new hires in January. The lack of growth in new business also indicates that the recovery in this sector remains fragile." The overall slowdown was primarily driven by the services sector, where activity expanded at its slowest pace since September, offsetting the renewed expansion in manufacturing output. The services business activity index fell to 51.6 from 52.4 in December. Despite the slowdown, business confidence rose to its highest level since May 2024. de la Rubia added, "The ECB is not currently particularly concerned about inflation, but the significant rise in service sector cost inflation as shown by the PMI, along with the marked increase in sales price inflation, will still put some pressure on officials."The German Engineering Federation reiterated its forecast that production will grow by 1% in 2026.The Eurozones final services PMI for January was 51.6, below the expected 51.9 and the previous reading of 51.9.The final reading of the Eurozone Composite PMI for January was 51.3, below the expected 51.5 and the previous reading of 51.5.The Ukrainian delegation arrived in Abu Dhabi on the 4th local time.
