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ICE raw sugar futures bounced on Friday with prices underpinned by oversold indicators and expectations that physical demand may pick up after prices fell to a one-year low earlier this week.

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New Indonesian taxes on metals and curbs on raw mineral shipments are likely to hit exports of nickel and bauxite to China and push ore prices higher on world markets, an industry source said on Friday.

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U.S. stock index futures edged higher on Friday ahead of a key report on the labor market, which could provide a clearer picture on the strength of the economic recovery.

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Chicago wheat rose for a second day on Friday with support from short covering after recent falls while U.S. corn and soybeans edged higher giving a boost to European milling wheat.

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The euro dipped against the dollar on Friday after weak surveys on the euro zone services sector and before weekend elections in France and Greece, though falls were limited ahead of U.S. jobs data later in the day.

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World stock markets were mostly lower Friday ahead of U.S. employment data that will give a big clue to the robustness of the recovery in the world’s No. 1 economy.

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Gold prices fell in Europe on Friday and were on track for their biggest weekly loss in seven, as traders took to the sidelines ahead of key payrolls data later in the day, and as the euro weakened ahead of elections in France and Greece this weekend.

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The Food and Agriculture Organization (FAO) has reported that global food prices have dropped three points from March to April of this year, yet still remain relatively high level, a UN spokesperson said.

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Italy’s government unveiled a new section on its website, asking citizens to suggest ways to cut administrative costs in a drive to trim 4.2 billion euros this year alone.

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