Markets generally dislike uncertainty. Yet, that doesn’t stop traders and investors from trying to price in what they think is likely to happen in their view.

The risk-off mood from the new surge in Covid infections in China saw a bid in the greenback. This offset the Fed speakers on the wires who were less hawkish than recent chatter.

US stock futures have perked up this morning on news that China will cut its quarantine time on foreign travellers. This comes as Wall Street pared gains after initially rising from stronger-than-expected US durable goods data.

Oil traders have been kept on their toes all day Thursday. Markets had a lot of new information to digest, resulting in oil prices being whipped about over the past few hours.