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Futures on major US indices were trading in negative territory at the time of writing. S&P 500 and Dow Jones futures inched down to 3083.55 and 27658 respectively at the time of writing.

On the U.S.-China trade front, the Chinese commerce ministry said on Thursday that Washington and Beijing have agreed to cancel in Phases tariffs imposed during their months-long trade dispute.

On the economic front, the Preliminary reading of Michigan Consumer Sentiment for November is scheduled to be released later today at 10 am ET. The index reading is expected to rise to 95.9 from 95.5 in the previous month.

European equities were trading slightly lower on Friday morning. In the Cash Markets, the CAC 40 and the DAX 30 lost 0.10% and 0.16% respectively at the time of writing.

On the data front, French Industrial Production (MoM) for September released earlier today came in at 0.3%. Production change was in line with market expectations.

Asia-Pacific stocks closed mostly lower on the last trading day of the week. The Nikkei 225 added 0.26% to finish its trading day at 23,391.87. On the other hand, the Shanghai Composite dropped 0.49% to close at 2,964.18. The ASX 200 edged down 0.037% to close at 6,724.10.

The Chinese central bank earlier today set its official daily midpoint fix stronger than 7 Yuan per dollar. It was its strongest level since early August.

On the economic front, the Chinese Trade Balance for October released earlier today came in at USD 42.81 billion. The Trade Balance was above the consensus estimates of USD 41.20 billion.

US Dollar Index futures inched up 0.14% to 98.09 at the time of writing. The U.S. dollar rose against the Japanese Yen today as market participants bought riskier assets on news that the Washington and Beijing had agreed to cancel tariffs as part of an as yet not finalized preliminary agreement to end their trade dispute.

In the Commodity Markets, Gold and Silver fell to 1466.22 and 16.955 respectively at the time of writing. In news related to commodity markets, Gold was on track for its largest weekly decline in two-and-a-half years as a Sino-U.S. trade optimism boosted risk-on sentiment, reducing the yellow metal’s demand.

In the Cryptocurrency Markets, Bitcoin and Ethereum fell to 9,029.74 and 184.43 respectively at the time of writing. In news related to the Cryptocurrency markets, according to market sources, a crypto-friendly bank, Silvergate Bank, has started selling stocks on the New York Stock Exchange from Thursday. Silvergate currently serves around 750 firms in the crypto space.

 

TECHNICAL SUMMARY

 

EUR/USD

EUR/USD D1   

TRADE SUGGESTION- STOP SELL AT 1.10345 TAKE PROFIT AT 1.10145 STOP LOSS AT 1.10445

 

NZD/USD

NZD/USD D1

TRADE SUGGESTION- STOP SELL AT 0.63397 TAKE PROFIT AT 0.63210 STOP LOSS AT 0.63307

 

USD/CAD

USD/CAD D1

TRADE SUGGESTION- STOP BUY AT 1.31960 TAKE PROFIT AT 1.32160 STOP LOSS AT 1.31860

 

USD/NOK

USD/NOK D1

TRADE SUGGESTION- STOP BUY AT 9.15700 TAKE PROFIT AT 9.19500 STOP LOSS AT 9.13800

 

BRENT CRUDE

BRENT CRUDE D1

TRADE SUGGESTION- STOP SELL AT 61.54 TAKE PROFIT AT 60.84 STOP LOSS AT 61.89

 

SILVER

SILVER D1

TRADE SUGGESTION- LIMIT SELL AT 16.975 TAKE PROFIT AT 16.900 STOP LOSS AT 17.015

 

CAC 40

CAC 40 D1

TRADE SUGGESTION- STOP BUY AT 5872 TAKE PROFIT AT 5899 STOP LOSS AT 5858

 

DAX 30

DAX 30 D1

TRADE SUGGESTION- LIMIT BUY AT 13240 TAKE PROFIT 13298 AT STOP LOSS AT 13210