Oil edges up 0.7%, yen slides on pension shift; markets await US CPI

Markets settled into a slower session Friday, with a slight sense of calm as the week wound down. US-Iran tensions kept the Strait of Hormuz in de facto closure. A U.S. official said negotiations could still take place. Oil prices rose, with WTI crude up 0.7% to $72.60.

European stocks were little changed and mixed on the day. US futures edged lower, weighed by tech shares. The S&P 500 slipped 0.1%, while the Nasdaq dropped 0.3%.

The dollar was little changed, holding mixed overall. EUR/USD flatlined at 1.1430. GBP/USD inched up 0.1% to 1.3425. The yen was the standout mover: USD/JPY fell 0.3% to 161.80 after Japan signaled a massive pension shift earlier in the session. That move typically supports the yen by shifting capital flows into domestic assets.

US 10-year yields rose 0.6 basis points to 4.547%, offering little direction. Gold fell 0.3% to $4,107. Silver dropped 0.9% to $59.45.

The week's quiet close gives way to the June US CPI report due July 14, the next major catalyst for rate expectations. For more on forex market trends, see forex market analysis.