EQUITIES
Asia-Pacific markets decline broadly as investors await U.S. inflation data. Japan’s Nikkei 225 extended losses from the previous session and was down 0.50%. In South Korea, the KOSPI fell 0.70% while the ASX 200 in Australia fell 0.40%.
Shares on the Chinese mainland also traded lower, with the Shanghai composite down 0.32% while the Hang Seng index in Hong Kong fell 0.50%.
Elsewhere, the India’s S&P BSE Sensex edged 0.46% lower, and the Straits Times index in Singapore slipped 0.24%.
Wall Street ended lower overnight as investors booked some profits after three straight days of gains, with the Nasdaq falling more sharply than the S&P 500, while the Dow was virtually flat.
OIL
Oil prices was flat on Friday but were on course to rise more than 6% this week, their first weekly gain in seven weeks.
The Brent now traded at $74.39 per barrel, and U.S. crude futures traded at $70.95 per barrel.
Overnight, the Brent futures ends at $74.42 a barrel, while the WTI crude oil prices closed to $70.94 per barrel.
CURRENCIES
The U.S. Treasury yields slipped a little overnight with benchmark 10-year Treasury notes last at 1.492%.
The dollar index was at 96.197 and drifting toward its seventh consecutive weekly rise.
GOLD
Gold prices edged higher on Friday but were headed for a fourth straight weekly fall. Bullion prices have fallen 0.4% so far in the week as investors worried higher inflation and a tightening labour market could prompt the Fed to accelerate the pace of its asset purchase reduction.
Spot gold rose 0.16% to $1,778.40 per ounce. U.S. gold futures gained 0.14% to $1,779.10.
Spot silver was flat at $22.01 an ounce but was headed for a fourth consecutive weekly drop. Platinum slipped 0.12% to $936.60, en route to its first weekly rise in four, while palladium fell marginally to $1,812.00.
ECONOMIC OUTLOOK
Asian shares slipped and the dollar held firm on Friday as investors assess risks associated with the renewed concerns about COVID-19 and ahead of key U.S. inflation data that could set direction on Federal Reserve rates.
Investors were in a waiting game ahead of U.S. CPI data due at 1330 GMT. A higher-than-expected reading would strengthen the case for a policy tightening decision at the U.S. central bank's meeting.
U.S. jobless claims data on Thursday dropped to their lowest level in more than 52 years last week as labour market conditions continued to tighten amid an acute shortage of workers. The number was in line with the Fed’s objective of achieving full employment, could end the tapering process sooner than expected and could also make the interest rate rise in 2022 to contain the advance of inflation in the U.S.
