When I have started my 2007 Volvo V70 in the morning, I have found the steering to be noisy when turning the steering wheel first one way and then the other way. Once the car has warmed-up, the problem goes away.
I initially thought it might be steering pump trouble, so, for the last couple of mornings, I used a hot air blower to warm up the steering pump before starting the car. This resolved the problem.
The pump has not lost any fluid. Would a fluid change cure the problem? SP Skelton While the problem may well be the steering pump, I suspect that it is more likely a slipping drivebelt causing the noise. When cold, the drivebelt is less pliable and more likely to lose grip on the pulley. As the belt warms up, this increases its flexibility and it's less likely to slip. So although the noise may be coming from the pump – in which case changing the steering fluid may help – I would also consider replacing the drivebelt.
There is a worst case scenario in which the pump is failing and putting extra pressure on the drivebelt. As your steering is working without any other problems, I would not expect this to be the case.