Markets on tenterhooks ahead of key US jobs data, yen jumps
Yen jumps as traders seek safety ahead of jobs numbers
The yen jumped to a three-week high against the dollar on Friday, as traders sought safety ahead of key U.S. jobs data that could influence the Federal Reserve's interest rate decision next week.
The dollar was down 0.5% at 134.10 yen, its lowest since Dec. 15. The euro was also down 0.3% at 143.10 yen.
Traders are awaiting the U.S. nonfarm payrolls report for December, due later on Friday. The data is expected to show that the economy added 200,000 jobs last month, down from 263,000 in November.
A weaker-than-expected jobs report could raise concerns about the strength of the U.S. economy and lead to a reassessment of expectations for Fed rate hikes.
The Fed is widely expected to raise interest rates by 25 basis points next week, but a weak jobs report could increase the likelihood of a smaller, 12.5 basis point hike.
The yen has been under pressure in recent months as the Bank of Japan has maintained its ultra-loose monetary policy while other central banks, including the Fed, have been raising rates.
The widening interest rate differential between Japan and other countries has made the yen less attractive to investors.
Stock markets mixed ahead of US jobs data
Stock markets were mixed on Friday ahead of the U.S. jobs data. The Dow Jones Industrial Average was up 0.2%, the S&P 500 was up 0.1%, and the Nasdaq Composite was down 0.2%.
European stocks were also mixed, with the pan-European STOXX 600 index up 0.1%.
Investors are cautious ahead of the jobs data, as it could provide clues about the strength of the U.S. economy and the Fed's interest rate policy.
Oil prices rise on supply concerns
Oil prices rose on Friday amid concerns about supply disruptions. Brent crude was up 0.8% at $84.10 a barrel, while U.S. West Texas Intermediate (WTI) crude was up 0.7% at $79.20 a barrel.
Concerns about supply disruptions have been growing in recent weeks, as the European Union is set to ban imports of Russian oil products on Feb. 5.
The ban is expected to reduce supply and push up prices.
Gold prices steady ahead of US jobs data
Gold prices were steady on Friday ahead of the U.S. jobs data. Spot gold was little changed at $1,873.39 an ounce.
Gold is often seen as a safe haven asset, and its price tends to rise when investors are concerned about economic uncertainty.
The U.S. jobs data could provide clues about the strength of the U.S. economy and the Fed's interest rate policy, which could impact gold prices.
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