Asian markets volatile as investors await US July jobs report
Asian markets were all over the place this Friday, with everyone's eyes on the upcoming US jobs report for July.
The numbers are expected to give clues about where the Federal Reserve is headed next with interest rates.
US Treasury yields held steady after a recent jump, while Australia saw its bond yields climb.
Brent crude rises to $83.65
Brent crude oil shot up 1.4% to $83.65 per barrel, fueled by rising tensions in the Strait of Hormuz.
Iran might restrict access for US and Israeli ships and demand compensation from countries it sees as "hostile," which could delay reopening a key waterway with Oman.
With oil prices already up more than 37% this year, these moves are making inflation concerns even tougher for everyone watching their wallets.
US July jobs expected around 80,000
People are waiting to see if the US adds around 80,000 jobs in July, a big jump from June's slower growth.
A strong report could mean the Fed keeps interest rates higher for longer; this would reinforce the case for higher-for-longer interest rates and could support expectations for Fed easing later this year.