The U.S. trade deficit widened in April as a jump in imports outpaced a slight increase in exports.

The number of Americans filing new claims for unemployment benefits increased last week and unit labor costs rose by less than previously thought in the first quarter, indicating the labor market is cooling but not enough to allay the Federal Reserve's hesitance to begin cutting interest rates.

Oil prices rose in Asian trade on Friday, extending a mid-week rebound after OPEC+ members sought to reassure markets over potential supply increases, while traders welcomed rate cuts in Canada and Europe.

The dollar hovered close to an eight-week low on Friday, ahead of a crucial U.S. jobs report that should provide clues on the timing of Federal Reserve interest rate cuts.

Euro zone business activity expanded at its quickest rate in a year in May as growth in the bloc's dominant services industry outpaced contraction in manufacturing, according to a private survey, which also showed price pressures easing.

Growth among Britain's services businesses eased in May from April's 11-month high and inflation pressures dropped to their lowest in three years, a survey showed on Wednesday, potentially easing the way for a Bank of England rate cut later this year.