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Equities in Japan, Australia and futures in Hong Kong all fell, taking cues from the downbeat mood on Wall Street. The S&P 500 dropped 0.2% and the tech-heavy Nasdaq 100 slipped 0.3%, their first declines in five sessions.
Treasuries were steady in opening trade following muted moves Thursday that favored the long-bonds, with 10-year and 30-year yields slightly lower. Swap trading showed the implied odds of a quarter-point Fed interest cut in the December meeting are around 70%.
The yen weakened slightly against the dollar on Friday even as base salaries for regular workers in Japan rose by a record.
The moves signal caution ahead of Friday’s nonfarm payrolls data after bouts of political turmoil in Asia and Europe have triggered a wave of volatility across currency markets but failed to jolt stocks. US jobless claims rose to a one-month high on Thursday, while economists estimate payrolls rose by 220,000 in November, rebounding after two hurricanes and a strike lowered October numbers.
Elsewhere, South Korea is planning measures to boost after-hours liquidity in the won, after this week’s political crisis triggered a surge in volatility in the currency.
In Asia, data set for release includes an interest rate decision in India and foreign reserves for Malaysia. November reserves data for China may also be released as soon as today.
In commodities, oil was steady after OPEC+’s decision to push back the revival of shuttered production by another three months failed to lift sentiment. Meanwhile, Chevron Corp. said it plans to slow production growth in the biggest US oil field next year. Gold held its declines.
Bitcoin pared a rally that earlier drove digital asset past $100,000 buoyed by President-elect Donald Trump’s pick of a crypto proponent to be the next head of the US securities regulator.
