EQUITIES

Main exchanges across U.S. and Europe were mostly recording losses when Thursday trading closed, though losses recorded were generally less than 1%.

Asian share markets opened early trading on cautious note, as Japan's Nikkei 225 down -0.40%, Hong Kong's Hang Seng up on low 0.09%, China's Shanghai Composite losses -0.14% and Singapore’s gained 0.14%. Meanwhile, shares in Australia also traded lower, as the S&P/ASX 200 retreated -0.29%, while South Korea’s KOSPI gained 0.13 % in early trading.

OIL

Brent crude futures ended the session higher on Thursday at $39.99 per barrel, a rise of 0.50%, while WTI crude futures rose 0.32%, at $37.41 per barrel.

Oil prices steadied in Friday morning of Asian trading hours, as investors stay cautious ahead of OPEC meeting. Brent is trading at $39.87, while WTI is trading at $37.15 as of writing time.

CURRENCIES

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 96.81 following a slip from levels around 97.6 seen earlier.

Japanese yen traded at 109.08 per dollar after weakening from levels below 108 earlier in the trading week. The Australian dollar changed hands at $0.6939 following its rise from levels below $0.68 seen earlier this week.

Most of European currencies are strengthening following ECB announcement of an increase in its Pandemic Emergency Purchase Programme by 600 billion euros.

GOLD

Gold currently trading at $1,713.10 per ounce, while stands around $1,721.60 per ounce for gold futures as of writing time. Previously closed at $1,712.90 and $1,727.40, respectively.

Silver trading at $17.96, platinum trading at $867.20 and palladium trading at $1,958.80.

ECONOMIC OUTLOOK

Stocks in Asia Pacific were mixed in Friday morning trade after major stock indexes on Wall Street snapped their winning streak overnight.

Oil prices eased slightly on Friday as markets wait to see whether major producers will commit to an extension of record production cuts to support oil prices.

China’s central bank injected 150 billion yuan ($21.10 billion) into the banking system on Friday through seven-day reverse repurchase agreements, while keeping the interest rate CN7DRRP=PBOC unchanged at 2.20%.

The European Central Bank announced an increase in its Pandemic Emergency Purchase Programme by 600 billion euros.

The U.S. unemployment rate is expected to have hit nearly 20%, with 20.5 million jobs lost in April and millions more expected in May data, which will be released at 8:30 a.m. ET Friday.

To date, number of confirmed worldwide cases for COVID-19 pandemic has now reached more than 6,698,000 today affecting 213 countries and territories around the world and 2 international conveyances, recording more than 393,000 fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

-        Resistance line of 109.235 (2-months resistance line) and 109.497

-        Support line of 108.810 and 108.404.

Commentary/ Reason:

-        Stochastic oscillator value is below 30, entering an oversold range.

- RSI oscillator is steadies around 50 value