Gold was down on Friday morning in Asia. The yellow metal was set to end the week on a down note as the dollar strengthened and uncertainty over the U.S Federal Reserve’s timeline to start asset tapering grows.
The dollar was up on Friday morning in Asia, rebounding from a selloff triggered by the latest U.S. jobs report. However, investors continue to bet on when the U.S. Federal Reserve will begin asset tapering.
Oil prices dipped on Friday, heading for weekly losses of nearly 2%, after China announced it would release oil from it strategic reserve and some U.S. airlines, key to a recovery in jet fuel demand, warned of a slowdown in ticket sales https://www.reuters.com/business/aerospace-defense/united-airlines-warns-delta-variant-hit-revenue-capacity-2021-09-09.
Wall Street ended lower on Thursday after weekly jobless claims fell to a near 18-month low, allaying fears of a slowing economic recovery, but also stoking worries the Fed could move sooner than expected to scale back its accommodative policies.
Asian shares rallied on Friday after two days of losses, but were still in a nervous mood as global investors grapple with how best to interpret central banks’ cautious moves to end stimulus, which also left currency markets quiet.