The Australian share market bounced back on Friday as traders decided the economy is doing better than a preceding three-day run of losses would suggest.
The S&P 500 flirted with an all-time high Thursday as equity markets continued their upward march in the wake of strong labour data and bullish market sentiment.
The Australian dollar has closed at a five-week high after strong jobs data raised the prospect the central bank would leave interest rates unchanged in the period ahead.
Businesses expect the pain of a high exchange rate to intensify over the coming year, with exporters saying they will respond by slashing their investment spending.
National Australia Bank plans to save about $800 million a year from new changes to its business that include a major reshuffle of its senior managers.
The Australian dollar has closed lower, drifting back towards 102 US cents as global markets poured back into the US dollar after a positive US jobs report.
The Australian share market has opened relatively flat as investors weigh up encouraging jobs data from the United States against disappointing economic figures from China.
The Dow Jones Industrial Average set a fresh record for the fourth straight session on Friday helped by solid jobs data that was nonetheless seen unlikely to move the Fed to tighten monetary policy
Australian firms are unlikely to get any relief from the relentless strength of the local dollar any time soon, particularly if overseas central banks keep pursuing policies that deflate their own
