Asian stock markets are trading mixed on Friday, following the mixed cues from Wall Street overnight, as the rate cut announcements by the European Central Bank and the Bank of Canada raised expectations of an interest rate cut by the US Fed in September, which could stimulate economic activity. The ECB has cut interest rate for the first time since September 2019. Asian markets ended mostly higher on Thursday.
Traders also remained cautious and stuck to the sidelines ahead the release of closely watched monthly jobs report later in the day, which could have a significant impact on the outlook for interest rates.
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