Oil prices edged up in early trading on Friday as investors weighed a big withdrawal from U.S. crude inventories and a delay to production hikes by OPEC+ producers against mixed U.S. employment data.
The U.S. dollar sagged near a one-week low versus major peers on Friday with job market indicators sending mixed signals ahead of crucial monthly payrolls data later in the day that is almost certain to set the pace for Federal Reserve policy easing.
Asian shares were subdued on Thursday, with Japanese stocks sliding to their lowest in three weeks as investors sought safety, pushing the yen to a one-month high while U.S. economic worries boosted prospects for the Federal Reserve to cut rates.
Oil prices edged up after plunging to multi-month lows previously as major producers may delay an output increase planned for next month and U.S. inventories fell, though the gains were limited by persistent demand concerns.
The dollar stayed on the back foot on Thursday as renewed concerns over the U.S. economy's growth outlook bolstered expectations of a supersized rate cut from the Federal Reserve this month.
Bank Negara Malaysia (BNM) will leave its key interest rate unchanged on Thursday and keep it there at least through 2025 as growth remains robust and inflation stays under control, according to a Reuters poll of economists.