Asian stocks rose on Friday, on course for a third week of gains, while the dollar was on the back foot as fresh signs of an easing U.S. labour market stoked optimism around interest rate cuts this year ahead of next week's crucial inflation data.
Japan's consumer spending kept shrinking for a 13th straight month in March, government data showed on Friday, creating challenges for policymakers seeking to engineer self-sustaining economic growth and normalise monetary policy.
China's exports and imports returned to growth in April after contracting in the previous month, signalling an encouraging improvement in demand at home and overseas as Beijing navigates numerous challenges in an effort to shore up a shaky economy.
The number of Americans filing first-time claims for unemployment benefits was greater than anticipated last week, in the latest sign of potential cooling in the U.S. labor market.
The number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, offering more evidence that the labor market was steadily cooling.
Oil prices rose on Friday, continuing upwards trend on the signs of improving economy in China and as negotiations to halt hostilities in the stand-off between Israel and Hamas yielded no results.