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The US economy unexpectedly shed jobs in February and the unemployment rate increased to 4.4 percent, potentially hinting at a deterioration in labor market conditions that could put the Federal Reserve in a difficult spot amid rising oil prices.
The US Treasury Department is expected to announce measures aimed at combating rising energy prices in the wake of the Iran conflict, including potential action involving the oil futures market, a senior White House official said.
The US trade deficit widened sharply in December amid a surge in imports, despite President Donald Trump's tariffs on foreign manufactured merchandise, but most of the imports were capital goods, which should support business investment and keep expectations for strong economic growth intact.
Gold prices dipped on Thursday, as the U.S. dollar firmed after stronger-than-expected January jobs data dented expectation for near-term interest rate cuts, while investors awaited inflation data due on Friday for more monetary policy cues.
Bonds jumped and a rebound in stock markets slowed down on Wednesday after softer-than-expected US retail sales figures, while a rally in the yen has extended and might be beginning to signal a shift in investor thinking since Japan's election.
US business activity was steady in January as an improvement in new orders was offset by a lackluster labor market and lingering concerns among firms over higher costs because of import tariffs, a survey showed on Friday.
US President Donald Trump said on Friday he was calling for a one-year cap on credit card interest rates at 10 percent starting on January 20 but he did not provide details on how his plan will come to fruition or how he planned to make companies comply.
US President Donald Trump and nine major pharmaceutical companies on Friday announced deals that will slash the prices of their medicines for the government's Medicaid program and for cash payers, in his latest bid to align US costs with those in other wealthy nations.
