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Futures on major US indices were trading in positive territory at the time of writing. S&P 500 and Dow Jones futures rose to 3247.30 and 28652 respectively at the time of writing.

On the U.S.-China trade front, the U.S. President said on Tuesday that he will sign a phase one trade deal with China at the White House on 15th January.

On the economic front, U.S. Initial Jobless Claims for the week ended 28th December is scheduled to be released today at 8:30 am ET. Claims are expected to rise to 225K from 222K in the previous week.

European equities were trading higher on Thursday morning. In the Cash Markets, the CAC 40 and the FTSE 100 added 1.05% and 0.84% respectively at the time of writing.

On the data front, French Manufacturing PMI for December released earlier today came in at 50.4. The PMI reading was above the market expectation of 50.3.

Asia-Pacific stocks closed in positive territory on Thursday. The Shanghai Composite rose 1.15% to finish its trading day at 3,085.20. The Hang Seng added 1.25% to close at 28,543.52. The ASX 200 inched up 0.097% to close at 6,690.60. The Japanese markets were closed on Thursday for a public holiday.

The Chinese central bank said on Wednesday that it will cut the reserve requirement ratio for commercial lenders by 50 basis points, effective 6th January.

On the data front, Caixin Manufacturing PMI for December released earlier today came in at 51.5. The index reading was below the market expectation of 51.8.

US Dollar Index futures inched up 0.24% to 96.35 at the time of writing. The U.S. dollar was almost flat today as market players betted the country’s economic outperformance might be drawing to a close as trade optimism lifted the outlook for the global growth.

In the Commodity Markets, Gold and Silver inched up to 1523.45 and 17.890 respectively at the time of writing. In news related to commodity markets, crude prices rose today as improving trade relations between Beijing and Washington eased demand concerns, while increasing Middle East tensions aroused supply concerns.

In the Cryptocurrency Markets, Bitcoin and Ethereum dropped to 7,120.98 and 129.19 respectively at the time of writing. In news related to the Cryptocurrency markets, prices of major cryptocurrencies were mostly lower on Thursday morning. Bitcoin’s market capitalization dropped to $129.15B at the time of writing.

 

TECHNICAL SUMMARY

 

GBP/USD

GBP/USD D1    

TRADE SUGGESTION- STOP SELL AT 1.31980 TAKE PROFIT AT 1.31700 STOP LOSS AT 1.32120

 

NZD/USD

NZD/USD D1

TRADE SUGGESTION- STOP SELL AT 0.66910 TAKE PROFIT AT 0.66750 STOP LOSS AT 0.66990

 

USD/CAD

USD/CAD D1

TRADE SUGGESTION- STOP BUY AT 1.30000 TAKE PROFIT AT 1.30200 STOP LOSS AT 1.29900

 

AUD/USD

AUD/USD D1

TRADE SUGGESTION- STOP SELL AT 0.69930 TAKE PROFIT AT 0.69650 STOP LOSS AT 0.70070

 

NATURAL GAS

NATURAL GAS D1

TRADE SUGGESTION- LIMIT SELL AT 2.164 TAKE PROFIT AT 2.130 STOP LOSS AT 2.181

 

SILVER

SILVER D1

TRADE SUGGESTION- STOP BUY AT 17.870 TAKE PROFIT AT 17.950 STOP LOSS AT 17.830

 

DOW JONES

DOW JONES D1

TRADE SUGGESTION- LIMIT BUY AT 28650 TAKE PROFIT AT 28750 STOP LOSS AT 28600

 

NASDAQ 100

NASDAQ 100 D1

TRADE SUGGESTION- LIMIT BUY AT 8806 TAKE PROFIT AT 8842 STOP LOSS AT 8788