US futures are pointing to a flat open as of 04:45 ET. This follows European equity markets opening mostly higher, and broad strength in Asian markets. Risk appetite has turned positive after better China activity data and China also stepping up policy support measures. Notwithstanding the ECB hiking rates on Thursday, it gave strong hints it is likely to be last hike in the cycle. Markets continue to anticipate a Fed pause next week despite firmer US data.

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