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Thursday, April 18, 2019

Japan set to trade higher while other Asian markets remain closed for Good Friday

Nikkei futures pointed to a higher open in Japan on Friday while other Asia Pacific markets, including Australia, Hong Kong, Singapore and Indonesia, were closed due to a public holiday.

The session in Asia looked set to follow overnight gains from Wall Street on the back of corporate earnings and economic data. American markets will also be closed on Friday due to Good Friday.

In the currency market, the dollar index, which measures the greenback against a basket of its peer, last traded at 97.474, climbing from levels near 96.900 earlier in the week. The Japanese yen traded at 111.97 to the dollar, weakening from levels near 111.20 in the previous week.

Oil prices ticked up overnight following declines in crude exports from Saudi Arabia. Global benchmark Brent rose about 35 cents to $71.97 a barrel while U.S. crude was up 24 cents to $64.

Saudi crude oil exports fell by 277,000 barrels per day in February from a month earlier, Reuters reported. The world's top oil exporter, and OPEC's de facto leader, shipped 6.977 million barrels per day in February, which was down from the 7.254 million shipped in January.

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