Indian equities opened higher on Friday, with the Nifty 50 rising 0.83% to 24,375.65 and the BSE Sensex up 0.84% to 78,152.34. Information technology stocks led sector gains, climbing 1.9%, while HCLTech jumped 5.2% after announcing a $1.14 billion strategic partnership with a European firm. The advance followed a softer U.S. June jobs report and downward revisions to the prior two months, which strengthened expectations that the Federal Reserve may hold off on near-term rate increases, Reuters reported.

U.S. nonfarm payrolls rose by just 57,000 in June, well below the expected 110,000. Traders quickly pared back expectations for a Federal Reserve rate increase in September, with the probability dropping to 52% from 64%. The dollar index (DXY) fell 0.2% to 100.77 and is on track for its biggest weekly decline in nearly three months. The data triggered a rapid repricing of near-term U.S. rate expectations in FX markets, providing a clear catalyst for DXY moves.

U.S. nonfarm payrolls rose by 57,000 in June, well below the 110,000 expected. Following the data, market pricing for a Federal Reserve rate hike in September fell to 54% from 66%. Spot gold gained 0.5% to $4,144.83 an ounce, the highest since June 23, and was on track for a 1.2% weekly rise—its first in five weeks. Silver, platinum and palladium also advanced, each headed for weekly gains.

Prime Minister Mark Carney and Alberta Premier Danielle Smith announced plans to advance a Pacific Coast oil pipeline through southern British Columbia along the existing Trans Mountain corridor, with design capacity exceeding 1 million barrels per day and an aim to reach Asian markets. The plan carries federal and provincial political backing while keeping the oil tanker ban off northern British Columbia in place. The Trans Mountain expansion entered service in 2024, and more than two-thirds of crude shipped from Canada’s Pacific Coast is now sold into Asia. Officials say the move is intended to reduce reliance on the U.S. and narrow the discount on Canadian crude.

Xun Ce Technology (3317.HK) said it has priced a placement of new H shares at HK$107.7 per share. The company also announced the issuance of a RMB1.36 billion zero-coupon convertible bond that is denominated in renminbi, settled in U.S. dollars and due 2027. It did not disclose specific uses of proceeds or any major strategic changes, and said there were no adjustments to guidance or regulatory events triggering the move.

CITIC Securities said the average price of praseodymium-neodymium oxide reached 731,000 yuan per tonne in the first half of 2026, up 73.6% year on year. The report attributed the rise to a sharp drop in import and recycled supply, alongside tighter enforcement of China’s rare earth management policies that kept supply constrained. On the demand side, it cited higher output of new energy vehicles and robots as well as strong growth in export orders. The price move reflects a material tightening in the supply-demand balance for a key rare earth raw material.

Brent crude remained under pressure near $71 a barrel this week and is set for a fourth straight weekly decline, the longest losing streak since August 2024. Saudi Arabia’s exports have returned to 90% of prewar levels, with most shipments moving through the Strait of Hormuz, while the UAE and Iran have also boosted supplies amid expectations of looser supply tied to a temporary US-Iran arrangement. Citigroup expects Brent to fall to $60–65 a barrel by year-end.

The Malaysian ringgit strengthened in early trade on Friday, rising to 4.0705/0805 against the US dollar from the previous close. The move followed a sharp downside surprise in US June nonfarm payrolls, which rose by 57,000 versus a 114,000 consensus, alongside downward revisions to April and May. The ringgit also gained against the British pound, Japanese yen, euro, Philippine peso, Indonesian rupiah, Thai baht and Singapore dollar.