Asia Hopes US Jobs Data Will Bring Clarity on Fed Rates

Asian share markets paused on Friday awaiting the release of US jobs data that could influence next month's interest-rate decision by the Federal Reserve.

The US payrolls report, due later in the day, is forecast to show a rise of 80,000 jobs for July after a 57,000 gain in June, with the unemployment rate expected to hold steady at 4.2%.

The stakes are high as markets struggle to determine how the Federal Reserve will move next month, with some economists predicting that a strong jobs number would reinforce higher-for-longer pricing and put upward pressure on rates.

Meanwhile, oil prices continued their upward trend due to rising tensions in the Middle East. Brent crude futures gained 1% to US$83.38 a barrel, after jumping 3.8% overnight.