Oil prices edged up in early Asian trade after a 1% dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook while the surging pandemic in India capped prices.

TOKYO (Reuters) - The dollar stayed under modest pressure on Friday ahead of a key U.S. jobs report that could cement expectations of a strong economic recovery and fan investor appetite for stocks, higher-yielding currencies and commodities.

TOKYO, May 7 (Reuters) - Japan’s services sector activity contracted in April as coronavirus emergency measures hit businesses, though the pace of decline eased to its slowest since around the time the health crisis started in early 2020.

BEIJING, May 7 (Reuters) - China’s services sector expanded at the sharpest pace in four months in April, driven by fast growing new businesses, a private survey showed on Friday, although surging costs are likely to weigh on growth over the coming months.

Global stocks headed for their first weekly gain in three amid a surge in commodity prices, while traders braced for a key U.S. jobs report later on Friday that could provide clues on when the Federal Reserve will ease back on monetary stimulus.

TOKYO (Reuters) - Asian shares rose on Thursday and commodity prices held near multi-year highs as investors switched to cyclicals amid hopes of a strong economic recovery, while the Australian dollar fell after China said it would end economic dialogue with Canberra.