Oil prices fell on Friday but are set for a weekly gain, caught between expectations of lower demand as the end of summer nears in the United States, the world’s biggest consumer, and uncertainty about the availability of Russian supply.
Japan’s factory output slumped in July as U.S. tariffs bite and a leading indicator of nationwide inflation slowed, data showed on Friday, complicating the central bank’s decision on the next rate-hike timing.
Asian stocks were a mixed bag on Friday, with Chinese shares extending their stellar performance through August and remaining at recent multi-year peaks, while Japan’s Nikkei 225 retreated on a swathe of negative economic readings.
New car sales in Europe rose 5.9% in July as a jump in Germany outweighed drops in Britain, France and Italy, European Automobile Manufacturers Association data showed on Thursday.
Thailand’s manufacturing production index in July dropped for the first time in four months to reach its lowest level in nearly two years, the industry ministry said on Thursday, weaker than forecast after falling car production.
New York Federal Reserve Bank President John Williams indicated on Wednesday that interest rates could decrease at some point, but emphasized that upcoming economic data will determine if a rate cut is appropriate at the September 16-17 meeting.