The Asian markets drew scant impetus from Wall Street, which closed little changed ahead of the jobs report. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 percent in early trading, while Japan’s Nikkei stock average lost 0.2 percent. China’s markets are closed on Friday.
Market focus is now on whether the April jobs report, which a Reuters survey of economists forecast to show U.S. employment rising at its fastest clip in five months, would be strong enough to decisively tilt sentiment towards the U.S. economy.
U.S. economic indicators have been a mixed batch so far this week, with first quarter GDP and construction spending falling short of expectations while consumer spending recorded its largest gain in more than 4-1/2 years in March and factory activity accelerated last month.
U.S. Treasuries rallied on Thursday, focusing more on weaker data that helped build expectations the Fed would be kept from raising short-term rates before second-half 2015 and perhaps even lead it to pause stimulus tapering
The dollar stood little changed at 102.32 yen after posting a modest gain against the Japanese currency on Thursday. The euro was also flat, trading at $1.3868.
Sterling was at $1.6892, hovering near a five-year high of $1.6921 hit on Thursday after robust manufacturing data bolstered optimism in the British economy.
In the commodities markets, oil remained under pressure after slipping Thursday on disappointing Chinese manufacturing activity and data showing U.S. crude stocks rose last week to their highest level since 1982.
U.S. crude futures fell 0.1 percent to $99.33 a barrel.