Markets In 'Quiet Mode' Ahead Of New York Session!


 Markets are moving slowly again following the dismal trade recorded earlier in the week, showing the US dollar hovering at a 2-week high.

After taking gains earlier in the week, the dollar index stopped making gains as investors focused on current developments regarding Covid-19 in China.

Investor concerns continued to rise after Beijing issued a warning about the increasingly critical situation in the city.

Meanwhile, major currency trading is seen to be more stable following the losses suffered on Monday.

The euro hovered around one-week lows as European Central Bank (ECB) policymakers gave mixed indications of upcoming tightening measures.

The pound, on the other hand, pared some of its losses, but its movements remained limited amid uncertainty over post-Brexit issues.

This follows earlier reports that UK Prime Minister Rishi Sunak said he would not pursue trade relations with the European Union (EU) that depend on the bloc's legislation.

This may lead to further conflict for both sides, even though Brexit was achieved 2 years ago.

On the other hand, the Aussie and New Zealand dollars traded steady with investors focused on the Reserve Bank of New Zealand (RBNZ) policy meeting that will take place on Wednesday.