PBOC sets USD/CNY reference rate at 7.0983 vs. 7.0870 previous

Despite Donald Trump's victory in the presidential election, Trump Media stock is losing ground today. While there isn't any new business-specific news for the company or unfavorable political developments for Donald Trump, the social media specialist's share price is moving lower as investors move to take profits on the stock.

The GBP/USD pair struggles to build on the previous day's positive move and faces rejection near the 100-day Simple Moving Average (SMA) during the Asian session on Friday.

Shares of Arm Holdings (NASDAQ: ARM) were moving higher after the chip-design company posted better-than-expected results for the fiscal second quarter and reaffirmed its guidance for the full year.

Electric vehicle maker Rivian Automotive (NASDAQ:RIVN) saw its stock rise 3% despite reporting third quarter revenue that fell short of analyst expectations.

Gold price (XAU/USD) struggles to capitalize on the previous day's solid rebound from the 50-day Simple Moving Average (SMA) support near the $2,643 area, or over a three-week low and attracts some sellers during the Asian session on Friday.