Mainland shares declined on Friday following a week-long holiday while the rest of the Asian region enjoyed gains on optimism ahead of the closely-watched U.S. payrolls report.
A positive handover from Wall Street helped to lift sentiment. Both the Dow Jones Industrial Average and the S&P 500 posted their biggest one-day percentage gains of the year after data showed unemployment claims fell more than expected last week, indicating an improving U.S. labor market a day ahead of January’s payrolls report.
Investors also digested overnight central bank decisions. The European Central Bank (ECB) left interest rates unchanged on Thursday, preferring to wait for fresh economic forecasts that are due in March to decide on what new policy action was required. Meanwhile, the Bank of England left rates unchanged at 0.5 percent, but made no comment on forward guidance.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at firstname.lastname@example.org. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.