Markets on tenterhooks ahead of US jobs data, yen jumps
Analysts see US August non-farm payrolls up 160,000
Oil prices on track for worst week in a year
European shares slip for fifth straight session
Dollar on back foot, down 0.5% vs yen
Adds quote in paragraph 5, updates prices as of 0840 GMT
By Nell Mackenzie and Stella Qiu
LONDON/SYDNEY, Sept 6 (Reuters) -World shares held near three-week lows on Friday, the dollar nursed losses and crude oil languished near this year's lows, as investors waited for U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy.
Oil prices are staring down their worst week in more than a year, hovering just above a critical chart level, with their near-term fate depending on the U.S. payrolls report due later in the day. O/R
European shares opened lower and slipped for a fifth straight session on Friday. The pan-European STOXX 600 index STOXX was last down 0.6%.
Germany's DAX index .GDAXI was down 0.5% after data showed the country's industrial production fell by 2.4% in July, compared with analysts' prediction of a 0.3% drop.
"Germany has become the sick child of Europe again recently, and there is a lot of worry on the health of the economy," said James Rossiter, head of global macro strategy at TD Securities.
This would be overshadowed by the U.S. job numbers, he added.
There is a lot riding on the U.S. non-farm payrolls report after Federal Reserve Chair Jerome Powell said policymakers do not welcome any further weakening in the labour market, laying the ground for imminent rate cuts.
Analysts are looking for the number of new jobs, due at 8:30 a.m. ET (1230 GMT), to rise by 160,000 and for the unemployment rate to dip to 4.2%.
TD Securities' Rossiter said the unemployment rate was key. A rise to 4.3% or 4.4% would probably push the Fed to call a 50 basis point rate cut, he said.
Influential Fed governor Christopher Waller and New York Fed President John Williams are due to speak just after the jobs data, which could give markets more clues on the scale of a Fed rate cut on Sept. 18.
"They will both have had a chance to comb through this latest data and we'll see if there is push back on a 50 basis point cut," said Rossiter.
Ahead of the announcement, U.S. equity markets meandered downwards. Nasdaq futures NQc1 fell 1.15%, while S&P futures ESc1 slipped 0.6%.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS edged 0.2% higher, heading towards a 2.8% drop for the week.
The Shanghai Composite index .SSEC closed down 0.81% at 2,765.81 points, while the blue-chip CSI300 index .CSI300 ended 0.81% lower at 3,231.35 points. Both recorded their lowest closing levels since Feb. 5.
Hong Kong stock markets were shut ahead of Super Typhoon Yagi's expected landfall along the coast of Hainan province.
The Nikkei .N225 dropped 0.7% as the yen jumped, weighing on the outlook for Japanese exports. The index is down about 4% this week.
The yen JPY=EBS rose 0.5% to 142.68 per dollar, bringing the weekly gain to roughly around 3%, although a strong payrolls report could see that reverse.
Kristina Clifton, an economist at the Commonwealth Bank of Australia, noted that market caution in the lead up to the U.S. data has driven safe haven flows into the yen.
Globally, jittery investors poured $61 billion into cash-like money market funds in the week to Wednesday, Bank of America said on Friday.
Treasury yields slipped on Friday, extending their declines this week. Two-year Treasury yields US2YT=RR are down around 20 basis points (bps) so far this week to around 3.71%, trading around their lowest since early 2023.
Ten-year yields US10YT=RR have fallen around 18 bps this week to 3.73%, with the spread over two years on the verge of turning positive.
Oil is facing the worst week since October 2023 as demand worries weigh against a big withdrawal from U.S. inventories and a delay to output increases by OPEC+ producers. O/R
Brent crude futures LCOc1 recovered some ground on Friday up 32 cents at $73.01 a barrel, but were down over 7% so far in the week.
Gold XAU= steadied at just over $2,517 an ounce.
Asia stock markets https://tmsnrt.rs/2zpUAr4
Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
Reporting by Nell Mackenzie and Stella Qiu; Editing by Dhara Ranasinghe, Sam Holmes and Mark Potter
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
Aset Berkaitan
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
