EQUITIES

Asian share markets set to trade lower today, as Japan's Nikkei 225 retreated -0.23%, Hong Kong's Hang Seng losses -1.15%, and China's Shanghai Composite down -1.46%. Meanwhile, shares in Australia also traded lower, as the S&P/ASX 200 retreated -0.26%, and South Korea’s KOSPI down -0.77% in early trading. Singapore’s stock market closed today in observance of election day.

U.S. stocks ended mixed on Thursday, with Nasdaq hitting another record closing high.

OIL

Oil retreated in the morning of Asian trading hours. Brent crude futures traded to $42.11 a barrel, while U.S. crude at $39.33.

On Wednesday, Brent closed at $42.35 per barrel, while WTI futures ended at $39.62 per barrel.

CURRENCIES

The U.S. dollar attracted safehaven inflows, rising 0.35% against a basket of currencies, to 96.87, lifted from near one-month low of 96.233 touched on Thursday.

The Japanese yen changed hands at 107.06 per dollar, strengthening from levels around 107.60 earlier in the week but relatively flat from its previous close. The Australian dollar stood at $0.6939, retreated from Thursday's one-month high of $0.7001.

Earlier in the global session, the dollar struggled, as Chinese yuan climbing to a four-month peak, as investors increased positions in Chinese stocks on growing signs of a recovery in the world’s second-largest economy.

GOLD

Gold currently trading at $1,802.80 per ounce, while stands around $1,808.30 per ounce for gold futures as of writing time. Previously closed at $1,802.50 and $1,803.80, respectively.

Gold hovered near a recent 8-and-half year peak as investors preferred safe-haven assets.

Silver trading at $18.63, platinum trading at $821.00 and palladium trading at $1,884.00.

ECONOMIC OUTLOOK

Asia Pacific markets fell Friday, following a mixed overnight on Wall Street where coronavirus anxiety dominated market sentiment pushed investors into tech stocks.

Mainland China shares fell on Friday for the first time since June 29. It had rallied for an eighth day on Thursday, fueled by retail investor enthusiasm and policy support, even as regulators cracked down on margin financing and as state media warned of market risks.

Japan is likely to revise its economic assessment up slightly at its monthly report for July, as growing signs the economy is gradually emerging from the impact of the coronavirus pandemic.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

- Resistance line of 108.818 and 108.165.

- Support line of 106.692 and 106.074.

Commentary/ Reason:

- Against the safe-haven yen, the dollar traded lower at 107.035 yen, having touched its lowest level in 10 days yesterday.

- Stochastic and RSI oscillators entered the undervalued ranges.

- The MACD is trading below its signal line and negative. The configuration is negative.