Morning Report

Equity

Asian stocks gained early on Friday, as hopes for a thaw in the U.S.-China trade conflict fed investor appetites for risk assets.
The Wall Street Journal reported on Thursday that U.S. Treasury Secretary Steven Mnuchin discussed lifting some or all tariffs imposed on Chinese imports and suggested offering a tariff rollback during trade discussions scheduled for Jan. 30.
Australian stocks rose 0.6 percent, as did South Korea’s KOSPI while Japan’s Nikkei gained 0.7 percent.

Currencies

In currencies, the dollar was mildly supported after U.S. Treasury yields rose amid the improvement in risk appetite in the broader markets.

The greenback was steady at 109.14 yen after popping up to a two-week high of 109.40 overnight. The dollar has gained about 0.6 percent against the Japanese currency this week.

The euro was little changed at $1.1392 after dipping slightly overnight. The common currency was on track for a weekly loss of 0.7 percent.

The 10-year Treasury yield stood at 2.746 percent after going brushing 2.761 percent the previous day, its highest in three weeks.

The pound stood at $1.2984 , hovering close to a two-month peak of $1.3001 scaled overnight on the back of hopes that Britain can avoid a no-deal Brexit.

Oil

U.S. crude oil futures extended gains after rising the previous day on a rebound in Wall Street and news that OPEC sharply curtailed production in December. [O/R]

U.S. crude futures CLc1 added 0.13 percent to $52.14 per barrel. The contracts have gained 1.1 percent this week.

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