The Australian share market looks set to open more than half a per cent higher after the Nasdaq reached another record high.
At 0700 AEST on Friday, the share price futures index was up 33 points, or 0.55 per cent, at 6,058.
European markets jumped after the European Central Bank said it would avoid raising interest rates until mid-2019.
Wall Street’s key indexes rose – bar the Dow Jones – closed higher amid strong US retail sales numbers a day after the Federal Reserve increased its key interest rate and hinted at the possibility of two more hikes by the end of 2018
The Dow Jones Industrial Average fell 0.10 per cent, to 25,175.31, the S&P 500 gained 0.25 per cent, to 2,782.49 and the Nasdaq Composite added 0.85 per cent, to 7,761.04.
Locally, in economic news on Friday, Reserve Bank of Australia assistant governor (Economic) Luci Ellis speaks at the Infrastructure Partnerships Australia (IPA) Leaders’ Luncheon in Sydney.
In equities, the class action filed by law firm Quinn Emanuel against wealth manager AMP is listed in the Supreme Court in Sydney.
The Australian market on Thursday closed closed the day weaker after soft local job figures and weak economic data out of China weighed on a market already under pressure from overnight falls on Wall Street.
The benchmark S&P/ASX200 index closed down 6.9 points, or 0.11 per cent, at 6,016.6 points, while the broader All Ordinaries was down 3.5 points, or 0.06 per cent, at 6,129.6 points.
Meanwhile, the Australian dollar slumped more than half a cent to below 75 US cents as the US dollar index surged 1.1 per cent.
The local currency was trading at 74.77 US cents at 0700 AEST on Friday, from 75.53 on Thursday.
CURRENCY SNAPSHOT AT 0700 AEST:
One Australian dollar buys:
* 74.77 US cents, from 75.53 on Thursday
* 82.73 Japanese yen, from 83.11 yen
* 64.62 euro cents, from 63.92 euro cents
* 56.37 British pence, from 56.35 pence
* 107.17 NZ cents, from 107.38 cents
The spot price of gold in Sydney at 0700 AEST was $US1,302.04 per fine ounce, from $US1,302.86 per fine ounce on Thursday.
BOND SNAPSHOT AT 0700 AEST:
* CGS 4.50 per cent May 2021, 2.1282pct, unchanged
* CGS 4.75pct May 2028, 2.7235pct, unchanged
Sydney Futures Exchange prices:
* June 2018 10-year bond futures contract at 97.3100 (implying a yield of 2.6900pct), from 97.2725 (implying a yield of 2.7275pct) on Thursday
* June 2018 3-year bond futures contract at 97.815 (2.185pct), from 97.825 (2.175pct).
(*Bond market closes taken at 1630 AEST previous local session; currency closes taken from 1700 AEST previous local session)