The latest news on the Pfizer-BioNTech vaccine to some extent helped lift market sentiment in the European session.
According to the latest report, the Pfizer vaccine is said to provide 70% protection against hospitalization in the latest wave of the Covid-19 outbreak in South Africa.
The study released by Discovery Health is based on more than 211,000 Covid-19 positive cases, of which about 78,000 are believed to be linked to the Omicron variant.
While it does not give a calm accurate picture of the effectiveness of the vaccine against Omicron, but at least it gives some idea of how the medical capacity can address the early stages of transmission of such variants.
The news again lifted the trades of most major currencies to rise in the European session and prompted a decline in greenback dollar trading.
Against a basket of major currencies, the dollar index traded slightly lower at around 96.25.
Investors ’focus is now shifting to the FOMC policy meeting which will begin on Tuesday (US time) with its results announced on Wednesday.
Earlier, investors will be shown with the publication of US producer price index (PPI) data in tonight’s New York session which is expected to show a slight decline from the previous reading.
The euro traded slightly higher with the price movement now seen towards the price level of 1.1300 against the USD, apart from the market focus also on the European Central Bank (ECB) policy meeting.
