(fxcue news) - Indian shares look set to open on a tepid note Monday as disappointing U.S. jobs data fueled worries that the Federal Reserve may have waited too long to cut interest rates. Energy stocks could be in focus today after a deep weekly loss pushed oil prices to their lowest close since 2021 on Friday. However, crude oil futures gained more than $1 in Asian trading this morning as a potential hurricane system approached the U.S. Gulf Coast. Metal stocks may come under heavy selling pressure after iron ore prices fell below $90 per ton for the first time since late 2022. In economic releases, domestic industrial production and retail inflation data due later in the week might critical insights into the health of the Indian economy and could play a significant role in the Reserve Bank of India's (RBI) future monetary policy decisions. Benchmark indexes Sensex and Nifty fell around 1.5 percent each last week on concerns about the U.S. economy. Asian markets were broadly lower this morning amid softer inflation data from China and a hawkish mood surrounding the RBA. The U.S. dollar held to tight ranges as investors braced for August inflation data and the upcoming FOMC meeting, with uncertainty prevailing on the scale of a possible rate cut. Republican presidential nominee Donald Trump has announced a plan to impose a 100 percent tariff on goods from countries that move away from using the U.S. dollar in international trade. Gold held steady under the crucial $2,500 per ounce mark while oil rebounded after a brutal week. U.S. stocks fell sharply on Friday as weaker-than-expected job growth signaled an economic slowdown. Data showed non-farm payroll employment rose 142,000 jobs in August compared to economist estimates for an increase of 160,000 jobs. The unemployment rate ticked down slightly from 4.3 percent to 4.2 percent but there was a net downward revision of 86,000 jobs to payroll gains in the prior two months. The tech-heavy Nasdaq Composite plunged 2.6 percent to reach its lowest closing level in almost a month, while the S&P 500 plummeted 1.7 percent and the Dow dropped 1 percent. European stocks fell for a fifth straight session on Friday in their worst day since early August. The pan European STOXX 600 fell 1.1 percent. The German DAX lost 1.5 percent, France's CAC 40 shed 1.1 percent and the U.K.'s FTSE 100 dipped 0.7 percent.