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Futures on major US indices were trading in positive territory at the time of writing. S&P 500 and Nasdaq 100 futures inched up to 3381.55 and 9635.25 respectively at the time of writing.

On the U.S.-China trade front, Beijing is set to cut tariff rates on certain U.S. imports worth around $75 billion with effect from today at 0501 GMT.

On the earnings front, AstraZeneca and Aurora Cannabis are scheduled to release their quarterly results before the market open on Friday.

On the economic front, U.S. Core Retail Sales for January is scheduled to be released today at 8:30 am ET. Sales are expected to rise by 0.3% on a month-on-month basis.

European equities were trading mixed on Friday morning. In the Cash Markets, the DAX 30 and the FTSE 100 added 0.24% and 0.12% respectively at the time of writing.

On the data front, the second estimate of the Eurozone GDP for the fourth quarter was released on Friday. The QoQ rate of change in the GDP was +0.1%. The GDP change was in line with market expectations.

Asia-Pacific stocks closed mostly higher on the last trading day of the week. The Kospi index inched up 0.48% to close at 2,243.59. The Shanghai Composite added 0.38% to finish its trading day at 2,917.01. The ASX 200 advanced 0.38% to close at 7,130.20.

On the data front, the Japanese Tertiary Industry Index (MoM) for December released earlier today came in at -0.2%. The index change was the better-than-the market expectation of a fall of 0.3%.

US Dollar Index futures inched up 0.04% to 98.99 at the time of writing. The British pound held to its recent gains today as investors stuck with the view the new finance minister of the country would unveil a more expansionary budget in March. The euro dropped today as market players concerned about slowing growth in the eurozone ahead of GDP data.

In the Commodity Markets, Gold and Silver rose to 1577.78 and 17.705 respectively at the time of writing. In news related to commodity markets, crude prices gained today due to expectations that major producers will implement deeper supply cuts to counterbalance reducing demand in China.

In the Cryptocurrency Markets, Bitcoin and Ethereum rose to 10,282.15 and 271.24 respectively at the time of writing. In news related to the Cryptocurrency markets, prices of major cryptocurrencies were trading mostly higher on Friday morning. Bitcoin’s market capitalization rose to $187.31B at the time of writing.

 

TECHNICAL SUMMARY

 

GBP/USD

GBP/USD D1

TRADE SUGGESTION- LIMIT SELL AT 1.30320 TAKE PROFIT AT 1.30020 STOP LOSS AT 1.30470

 

NZD/USD

NZD/USD D1        

TRADE SUGGESTION- STOP SELL AT 0.64290 TAKE PROFIT AT 0.64110 STOP LOSS AT 0.64380

 

USD/CAD

USD/CAD D1

TRADE SUGGESTION- LIMIT SELL AT 1.32460 TAKE PROFIT AT 1.32260 STOP LOSS AT 1.32560

 

AUD/USD

AUD/USD D1

TRADE SUGGESTION- STOP SELL AT 0.67160 TAKE PROFIT AT 0.66900 STOP LOSS AT 0.67290

 

NATURAL GAS

NATURAL GAS D1

TRADE SUGGESTION- LIMIT SELL AT 1.795 TAKE PROFIT AT 1.760 STOP LOSS AT 1.812

 

BRENT CRUDE

BRENT CRUDE D1

TRADE SUGGESTION- LIMIT BUY AT 57.10 TAKE PROFIT AT 57.80 STOP LOSS AT 56.80

 

DOW JONES

DOW JONES D1

TRADE SUGGESTION- LIMIT BUY AT 29450 TAKE PROFIT AT 29550 STOP LOSS AT 29400

 

NASDAQ 100

NASDAQ 100 D1

TRADE SUGGESTION- LIMIT BUY AT 9632 TAKE PROFIT AT 9672 STOP LOSS AT 9612