GDP data set to highlight the agenda in Europe today

<p>The dollar lost some ground yesterday after bond yields dropped following the Treasury quarterly refunding estimate <a href="https://www.forexlive.com/news/treasury-q1-quarterly-refunding-estimate-760-vs-816-billion-prior-20240129/" target="_blank" rel="follow">here</a>. 10-year Treasury yields are now down to 4.05%, dipping below its 200-day moving average. That's a notable technical development as we gear towards the Fed meeting tomorrow.</p><p>Equities took full advantage of that as the S&amp;P 500 and Dow went on to post record closes once again. Can the bulls keep the streak running as we head into month-end? The Fed and the bond market will be two key factors to be mindful of when answering that question. That applies to the dollar's performance in the days to come as well.</p><p>Looking to European trading today, the euro will return to focus once again. The single currency saw a limp showing to start the new week, with EUR/USD testing 1.0800 yesterday and falling below its 200-day moving average.</p><p>For the session ahead, we'll be getting preliminary estimates for Q4 GDP in the euro area. A softer set of readings could give traders more reason to stick with their reasoning for April rate cuts.</p><p>0630 GMT – France Q4 preliminary GDP figures0700 GMT – Switzerland December trade balance data0800 GMT – Spain Q4 preliminary GDP figures0800 GMT – Spain January preliminary CPI figures0800 GMT – Switzerland January KOF leading indicator index0900 GMT – Germany Q4 preliminary GDP figures0900 GMT – Italy Q4 preliminary GDP figures0930 GMT – UK December mortgage approvals, credit data1000 GMT – Eurozone January final consumer confidence1000 GMT – Eurozone January economic, industrial, services confidence1000 GMT – Eurozone Q4 preliminary GDP figures</p><p>That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.</p>

This article was written by Justin Low at www.forexlive.com.