Oil prices were little changed on Friday but are set for their second weekly drop as disappointing economic data from the U.S., the world's biggest crude user, and uncertainty on further interest rate hikes raised concerns about future fuel demand.
The U.S. dollar was on track for a second straight monthly loss on Friday on mounting expectations the Federal Reserve could soon end its aggressive rate-hike cycle, while the yen steadied near a one-week high ahead of a pivotal central bank decision.
Chinese industrial profits fell substantially more than expected in the year to March, data showed on Thursday, indicating that the country’s manufacturing sector was struggling to pick up despite the lifting of most COVID-related restrictions.
China's job market remains tough, and it is becoming especially hard for college graduates to find jobs, vice Human Resources minister Yu Jiadong said on Thursday.
New orders for key U.S.-manufactured capital goods fell more than expected in March and shipments declined, suggesting that business spending on equipment likely remained a drag on economic growth in the first quarter.
Debt sustainability analyses carried out by the World Bank and International Monetary Fund should reflect the growing share of domestic debt in many developing countries' overall debt levels, World Bank President David Malpass said on Wednesday.