Markets continued to display limited movement as investors await key data from the United States to determine the next direction in rate setting by the Federal Reserve (Fed).
After being treated to lackluster data on Monday, investors are now turning their attention to the release of US economic growth reports for the third quarter and personal consumer spending (PCE).
Earlier, both the US manufacturing and services sectors contracted in October, seeing manufacturing activity decline to the weakest level since June 2020.
Meanwhile, the service sector also recorded a contraction after service providers reported the second biggest drop in output in almost two and a half years.
This kept the US dollar trading gloomy, with the dollar index remaining lower at 112 against most major currencies in the European session.
Additionally, the pound traded higher amid rising investor hopes that the appointment of Rishi Sunak as the UK's new Prime Minister will bring new light to the country's economy and markets.
Trading of the yen currency was flat following the second intervention by Japan into the foreign currency market at the end of last week.
Meanwhile, the euro is trying to defend its gains from the decline of the US dollar, while also getting support from a better-than-expected German Ifo business survey report.
On the other hand, the Aussie and New Zealand dollars traded steady with investors now paying attention to Australian inflation data to be released in the Asian session tomorrow (Wednesday).
