Oil prices were muted today

European equity markets profited from positive Asian risk sentiment and gained 0.5%‐1%. The move mainly occurred in the opening, after which sideways trading developed. US stock markets also opened around 0.5% higher.
Euro‐area economic momentum accelerated to the fastest pace this year, adding to evidence that growth is becoming more resilient. The October composite PMI rose to 53.7 in October from 52.6 in September (vs 52.8 expected), IHS Markit said. This is the fastest pace since the beginning of 2016.
The Belgian government says that it cannot yet give the necessary backing to the European Union's free trade deal with Canada, making it unlikely that the bloc can sign the deal officially on Thursday as planned.
Oil prices were muted today as details for any coordinated supply deal among the world's biggest producers remained scant, despite the Saudi energy minister saying the Kingdom and Russia "are getting closer" to reaching a common viewpoint.
AT&T's blockbuster $85.4B deal to buy Time Warner promises to reshape the media landscape—if the companies can navigate a series of obstacles, including possible opposition from U.S. antitrust authorities and objections by lawmakers and media and telecom rivals.

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EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.