Asian stocks rose a second week with the regional benchmark index posting its longest daily winning streak this year as positive U.S. data pointed to a recovery from harsh winter weather and China promised support to counteract a slowdown threatening the nation’s growth goal.
The dollar climbed to a five-week high against the euro before a government report that economists said will show the U.S. added the most jobs in four months, backing the case for reducing monetary stimulus.
U.S. stocks fell, after benchmark indexes climbed to records, while Treasuries rose before the government releases its monthly jobs report. The euro weakened as the region’s central bank said it’s prepared to take action to head off deflation.
Gold futures fell for the sixth time in seven sessions as signs of quickening U.S. economic growth bolster forecasts for the Federal Reserve to boost interest rates, crimping demand for the metal as a store of value.
Stocks in Europe were little changed, after climbing for seven days, as European Central Bank President Mario Draghi said policy makers are prepared to add further measures to support the euro-area economy if necessary.
German stocks were little changed, after a two-day gain, as European Central Bank President Mario Draghi said policy makers could turn to asset purchases to combat persistent low inflation in the euro area.