Globally, Oil prices fell on Friday as markets awaited more economic cues.Both contracts Brent & WTI were up 7.4% and 11% this week, respectively, and were set for their best weekly gain since March.Goldman Sachs (NYSE:GS) has raised its oil price forecast for this year and 2023, as the U.S. bank expects the 2 million barrels per day (bpd) output cut agreed by OPEC+ producers to be "very bullish" for prices going forward.Asian stocks declined on Friday, extending a global equity slide to a third day, as investors fretted over recession risks.Stocks started the week on a strong footing, with the MSCI world equity index rallying 5.65% in the first two days amid speculation that the pace of central bank tightening might slow, but that has fizzled out since Wednesday.China's foreign exchange reserves fell in September, official data showed on Friday, as the dollar climbed against other major currencies.Wall Street's major indexes closed lower on Thursday,Despite the day's decline, the three major indexes were poised to post a weekly gain after the sharp rally on Monday and Tuesday.The dollar was strongly poised on Friday, buoyed by a chorus of hawkish Federal Reserve speakers and as investors bet a solid jobs data later in the day.All eyes now turn to the U.S. nonfarm payrolls report due later on Friday, with economists forecasting 250,000 jobs to have been added last month, compared with 315,000 in August.Gold prices moved little on Friday,Spot gold was largely unchanged at $1,712.03 an ounce.Gold prices were set to gain around 3% this week.India's rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive U.S. Federal Reserve rate-hiking campaign.
With Inputs from Reuters
