EMERGING MARKETS-Stocks up 1 pct, Czech crown at 4-wk high

* Emerging stocks up 1 pct, debt spreads unchanged

* Czech crown hits 4-week high vs euro on stable rates

* Romania IMF tranche may be delayed, muted asset reaction

By Carolyn Cohn

LONDON, Nov 6 (Reuters) - Emerging stocks recovered some ground on Friday ahead of key U.S. data and a meeting of G20 finance ministers, although the Czech crown hit four-week highs on the previous session's steady-rates decision.

U.S. Oct employment data are due on Friday after upbeat data in the previous session, and the Federal Reserve and European Central Bank kept rates unchanged this week. "Despite the increasing volatility that we've seen in the markets, the overall tone is supportive, particularly after major central banks such as the Fed signalled that they are keeping an accommodative stance," said Murat Toprak, emerging markets strategist at Societe Generale."

Benchmark emerging equities .MSCIEF rose more than 1 percent. The index has this week wiped out half the previous week's losses, but risky assets show increasing volatility.

Markets are trading erratically as investors look to different signals for direction -- U.S. corporate earnings, U.S. data, monetary policy decisions and indications as to when governments may lift economic stimulus.