U.S. stocks and Treasuries rose, as improving economic data offset concerns that the Federal Reserve will cut monetary stimulus as soon as next month. The euro strengthened after German business confidence climbed to the highest in more than 1 1/2 years.
Emerging-market stocks gained, capping a second weekly advance, as a surge in German business confidence bolstered optimism about global growth. Brazil’s real jumped on speculation airport concessions will boost inflows.
The pound declined from a two-week high against the euro as Bank of England policy maker Spencer Dale said it would take a long time until the U.K. economy was strong enough to justify higher interest rates.
Canada’s dollar slid to the weakest level since September before data tomorrow forecast to show the consumer-price index fell below policy makers’ target, boosting the case for the central bank to keep interest rates on hold.
Emerging-market stocks capped the biggest decline in three months, led by commodity and technology companies, after data showed a slowdown in Chinese manufacturing. Brazil’s real led losses among major currencies.