Overnight

Asian shares opened down Friday, taking a cue from U.S. stocks that traded lower for the second consecutive day Thursday in what was the third lightest day of the year in volume and the upcoming Jackson Hole speech by Fed Chair Janet Yellen.

Few speeches have been more anticipated by investors, especially in Asia, than this one. The WSJ reorts: The Federal Reserve’s annual economic policy symposium is a venue for the biggest meeting of central bankers world-wide. And their words invariably move Asian markets—at a time in the year when little else is usually happening. wsj.com/articles/how-the-fed-affects-asia

Most other local markets opened flat following a flat week in general asrisk averse  became the mood of late again in the see-saw between risk on and risk off trading.The Nikkei was down 0.84%, the Australian ASX 200 dropped 0.2% and the Kospi faded 0.58%. For the Nikkei, a government report just before the market opened showing a July fall in consumer prices sent ripples of concern through investors worrying abut the government's stimulus policy and its effectiveness. Chinese shares were higher with the Shanghai Composite index up 0.4%.

In the currency markets, the U.S. dollar pushed lower even after central banker comments earlier suggested higher interest rates were nearly firmly on the table. The dollar index slipped 0.1% against its basket of six currencies at 94.654, lowering gain for the  week to just 0.3%. The euro continue to tread water at $1.12910 EUR=, on track to dip about 0.3 percent on the week with the Australian dollar edging up slightly0.2% to $0.7630.

Oil prices in the U.S. moved  higher to $47.35 a barrel, after rising 1.0% Thursday and news of the U.S.-Iran tensions in the Gulf and concerns abut Yell"s speech sending the dollar lower if it doesn't sooth investor concerns.Gold was trading at $1323.60, up $2.00.