The number of Americans filing new claims for unemployment benefits increased more than expected last week, further evidence that labor market conditions were gradually easing as higher borrowing costs dampen demand in the economy.
Asian central banks may need to keep monetary policy "tighter for longer" to combat still substantial inflation risks, senior International Monetary Fund official Krishna Srinivasan said on Thursday.
International Monetary Fund Managing Director Kristalina Georgieva on Thursday warned policymakers against the danger of a new Cold War as they ramp up efforts to secure their industrial supply chains amid geopolitical tensions between major powers.
Oil prices rose slightly in early Asian trade on Friday as signs of increasing demand in China helped markets look past an OPEC warning on potential headwinds, while tightening supply and a weaker dollar put crude on course for a fourth straight positive week.
China's exports posted a surprise surge in March, with outbound shipments rising 14.8%, snapping five months of decline, while imports fell a smaller-than-expected 1.4%, customs data showed on Thursday.
Most Asian stock markets retreated on Thursday, tracking overnight losses on Wall Street as growing concerns over a U.S. recession largely softer-than-expected inflation data and hopes of a pause in the Federal Reserve’s rate hike cycle.