Investors monitor reports of US-China trade relief

Market focus is largely attuned to global trade developments, after the Wall Street Journal reported Thursday that U.S. Treasury Secretary Steven Mnuchin proposed lifting all or some of the tariffs on Chinese imports. The goal is to push forward trade talks and get China’s support for longer-term reform.

U.S. stocks rallied on the news but pared some of those gains after a senior government official told CNBC that Mnuchin had not made any such recommendations.

In Asia, MSCI’s broadest index of Asia-Pacific shares, excluding Japan, rose 0.5 percent on Friday.

Financial markets have been battered in recent months, in part due to an ongoing trade conflict between the world’s two largest economies.

Back in Europe, the euro area is expected to publish current account figures for November at around 9:00 a.m. London time. The International Energy Agency (IEA) is scheduled to release its closely-watched oil market report at the same time.

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