World shares remained close to three-week lows on Friday as investors waited for U.S. jobs data that could impact the size and speed of potential interest rate cuts in the world’s largest economy. The dollar saw a slight recovery, and crude oil stabilized ahead of the release of the U.S. payrolls report. Oil prices faced significant pressure, near a crucial chart level, with their near-term outlook hinging on the U.S. payrolls report due later. European shares opened lower, marking the fifth consecutive session of declines. Germany’s DAX index was down 0.5% after data revealed a 2.4% drop in industrial production in July, which was significantly worse than analysts’ expectations. Investors are particularly focused on the U.S. non-farm payrolls report, scheduled for release at 8:30 a.m. ET (1230 GMT). Analysts are anticipating job growth of around 160,000 and an unemployment rate decrease to 4.2%. The outcome of this report could influence the Federal Reserve’s decision on potential rate cuts. Market analysts are closely watching for any signals regarding a 50 basis point rate cut from influential Federal Reserve officials Christopher Waller and New York Fed President John Williams following the data release. Global stock markets were mixed, with MSCI’s broadest index of world shares unchanged, while Asian markets saw losses. In commodities, oil prices faced considerable pressure, while gold prices saw a slight increase. Amid market uncertainty, investors have been cautiously moving funds into cash-like money market funds in recent weeks. Treasury yields have declined, with two-year Treasury yields reaching their lowest levels since early 2023. Oil prices are on track for their worst week since October 2023 due to concerns over demand and production levels.