Stocks ended 0.3 per cent stronger yesterday, leaving the market hovering near record highs and sustaining hopes of a prolonged recovery, buoyed by further healing in the US economy and signs of a soft landing in China.
Investor resolve will be tested by a slew of important Chinese and US economic data slated for release before trading resumes on Monday, including monthly US employment figures.
The Australian dollar was largely unchanged in the Asian trading session, ending the day up just US0.03c at $US1.0243.
"The outlook for the Australian dollar remains messy. Mixed Australian economic data is a negative but quantitative easing in the US and Japan is a positive," Shane Oliver, chief economist at AMP Capital, said.
Following another record-breaking performance on Wall Street, Australia's benchmark S&P/ASX 200 index overcame a shaky start to add 14.2 points to 5123.4, just below the fresh 4 1/2-year high of 5135.7 touched early on Thursday. For the week, the bourse finished up 0.7 per cent.
