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Oil prices rose in early Asian trading on Friday, set for a second weekly gain, as US sanctions on Iran and OPEC+ output cuts raised supply concerns.
US stocks bounced Wednesday after the Fed kept rates unchanged but signaled a 0.5% cut by year-end, boosting market optimism.
The Fed is likely to keep rates unchanged, with forecasts reflecting changes in views on inflation and the economy, amid tariff-driven price hikes.
Sterling steadied Wednesday after rising above 1.30 for the first time since November, boosted by a weaker dollar despite the OECD's growth cut.
The US dollar hovered near a five-month low against the euro and other majors on Tuesday amid concerns over rising global trade tensions.
Gold steadied below $3,000 after last week’s record high. Goldman Sachs sees upside risk to its $3,100 year-end forecast.
The Hang Seng Index rose Friday but faces a weekly loss, as Chinese tech stocks outpace US peers, a trend likely to continue.
Oil prices eased Thursday after a surge due to a US gasoline stock draw, with WTI net long positions at a 15-year low in February.
Inflation hit its highest since June last year, with the consumer price index up 3% YoY in January. Energy and food costs continued to rise.
The dollar neared a five-month low as Trump's trade policies kept US economic concerns high. The loonie remained volatile.
US stock indexes fell Monday, with Nasdaq 100 down 3.8%, as concerns rise that Trump's tariffs could lead to a global recession.
The euro rose after its best week since 2009, boosted by Germany's fiscal reforms. US job growth picked up, but tariffs show impact.
US added 143,000 jobs in January, with the unemployment rate dropping to 4%, below the expected 175,000 rise, per the BLS.
Oil hovered near a three-year low on Friday due to tariff uncertainties between the US, Canada, China, and OPEC+ plans to increase output.
