Reuters

U.S. job growth slowed more than expected in December amid a decline in retail employment, but a pick-up in monthly wage gains pointed to labor market strength that could pave the way for the Federal Reserve to increase interest rates in March.

A decision by China’s central bank to rein in reserve funds held by payment firms could cost the industry upwards of $689 million a year, spur consolidation and alter the way Asia’s biggest tech firms move money.

Gold prices on Friday held near 3-1/2 month highs hit the session before to remain on track for their fourth-straight weekly gain, with attention turning to U.S. payroll data due later in the day.

China slightly trimmed its final 2016 gross domestic product figure after scaling back an initial estimate of the services sector, but kept the annual GDP growth rate unchanged at 6.7 percent.

Oil prices fell on Friday, dropping away from highs last seen in 2015, as soaring production in the United States undermined the 10 percent rally from lows hit in December.

 U.S. private employers stepped up hiring in December and planned layoffs by American-based companies fell sharply, pointing to sustained labor market strength that likely keeps the Federal Reserve on course to increase interest rates in March.

The number of Americans filing for unemployment benefits rose for a third straight week last week, but that likely does not suggest a material shift in labor market conditions as data for several states, including California, were estimated.

A rally in European stocks picked up pace on Thursday, following the lead of Asian shares which hit a ten-year peak overnight, as services growth data for the euro zone confirmed a strengthening economy was bolstering corporate activity.

Oil prices on Thursday hit fresh two-and-a-half year highs and were at levels last seen at the start of the commodity slump in 2014/2015, with markets tightening amid tensions in Iran and due to ongoing OPEC-led production cuts.

The dollar edged up on Thursday after upbeat U.S. data and supportive minutes from the Federal Reserve’s latest policy meeting helped it shake off recent weakness.