In Asian Equity Markets stocks were left in limbo on Friday while the U.S. dollar made all the running as recession clouds gathered over Europe and highlighted the relative outperformance of the U.S. economy. Added concerns about the health of China’s economy saw MSCI’s broadest index of Asia-Pacific shares outside Japan ease 0.3 percent, to be down 1.1 percent on the week. Chinese blue chips were flat, while South Korea lost 0.5 percent. Japan’s Nikkei fared better with a 0.3 percent gain due in part to a renewed slide in the yen.

In Currency Markets the U.S. dollar climbed to a fresh one-month high against a basket of major peers on Friday as Federal Reserve policymakers continued to talk up the need for further interest rate hikes ahead of their key Jackson Hole symposium next week. The dollar index rose 0.121 percent to 107.620, after earlier touching 107.68, its highest since July 18. The greenback rose to 136.38 yen for the first time since July 28, while the euro fell to $1.00735, the weakest since July 15. Sterling sank to $1.1905, its weakest since July 21.

In US Equity Markets stocks ended higher Thursday as an upbeat sales forecast from Cisco Systems helped to lift the technology sector, while data showed the economy remained relatively strong. The Dow rose 0.06 percent, to 33,999.04, the S&P 500 gained 0.23 percent, to 4,283.74 and the Nasdaq Composite added 0.21 percent, to 12,965.34. Meanwhile, Cisco’s stock gained 5.8 percent and was among the biggest positives on the three major indexes, after it provided an upbeat forecast for first-quarter sales late on Wednesday as a COVID-19 recovery in China eased supply chain shortages.

In Commodities Markets oil prices gained about 3 percent on Thursday as positive U.S. economic data and robust U.S. fuel consumption offset concerns that slowing economic growth in other countries could undercut demand. Brent futures rose 3.1 percent, to settle at $96.59 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 2.7 percent, to settle at $90.50. Spot gold fell 0.2 percent to $1,758.42 per ounce. Spot silver fell 1.7 percent to $19.513 per ounce, platinum fell 1.2 percent to $912.88 and palladium rose 0.4 percent to $2,150.02.

In European Equity Markets stocks rose on Thursday with a boost from oil stocks, but lagged other major markets as euro zone inflation reached a record high in July and ECB officials hinted at another large rate hike next month. The continent-wide STOXX 600 ended 0.4 percent higher, lifted by a 1.7 percent gain for energy stocks after crude futures rose more than $1. Rockwool lost 8.3 percent after the Danish stone-wool manufacturer cut its 2022 margin guidance on rising energy prices. Adyen fell 3.7 percent after the Dutch payment processor missed core earnings expectations for the first half of 2022.

In Bond Markets U.S. Treasury yields ticked lower on Thursday on the back of Wednesday’s release of the U.S. Federal Reserve’s July meeting minutes that some investors saw as confirming a less aggressive stance in the central bank’s fight against inflation. On Thursday benchmark 10-year Treasury yields were down slightly at 2.878 percent while two-year note yields were down by about six basis points on the day, at 3.235 percent. Data on Thursday also showed below-forecast and downwardly revised jobless claims, which could give the Fed further ammunition to deliver another hefty rate hike next month.