US consumer sentiment rose from 67.5 to 69.6 in April, ahead of forecasts centred on 66.5. US consumer prices rose by 0.5pct in March, but excluding food and energy, prices rose just 0.1pct. And US industrial production rose by 0.8pct in March, ahead of forecasts for a gain of 0.6pct.

European shares rose on Friday despite softness in the banking sector and on-going worries about the Euro-zone debt crisis. The FTSEurofirst index rose by 0.2pct but fell 1.5pct over the week. The German Dax lifted by 0.4pct on Friday and the UK FTSE gained 0.5pct.

US sharemarkets rose on Friday as investors were encouraged by the latest economic news. Disappointing earnings from Google and Bank of America failed to dent the optimism. The so-called fear gauge, or the Vix, fell to a near four-year low, down 13.6pct over the week. The Dow Jones index rose by 56pts or 0.5pct with the S&P 500 higher by 0.4pct and the Nasdaq rose by 4.4pts or 0.2pct. Over the week the Dow Jones eased by 0.3pct with the S&P 500 down 0.6pct and the Nasdaq lower by 0.3pct.

US treasuries rose on Friday (yields lower) with investors encouraged that higher food and energy prices weren´t creating broader price pressures. US 2yr yields fell by 8pts to 0.69pct and US 10yr yields fell by 9pts to 3.41pct. Over the week US 2yr yields fell by 12pts and US 10yr yields fell by 16pts.

The US dollar was mixed against major currencies in European and US trade on Friday. The Euro eased from highs near US$1.4495 to US$1.4390, before lifting to close US trade near US$1.4420. The Aussie dollar rose from lows near US105.10c to US$105.75c before ending US trade near US105.60c. The Aussie is US105.50c this morning. And the Japanese yen rose from 83.45 yen per US dollar to near JPY83.00, before closing US trade at JPY83.10.

US crude oil prices rose on Friday. Higher US consumer confidence and industrial production offset worries that higher fuel costs could crimp economic activity. On-going instability in Libya also buoyed oil prices. The Nymex crude oil contract rose by US$1.55 or 1.4pct to US$109.66 a barrel. And the London Brent crude rose by US$1.45 to US$123.45 a barrel. Over the week Nymex crude fell by 2.8pct and Brent lost 2.5pct.

Base metal prices were generally firmer on the London Metal Exchange on Friday in response to positive US production data. Metals generally rose between 0.1-2.1pct although copper lost 0.1pct. Over the week metal prices reversed the previous week´s solid gains, easing from 0.3-7.1pct with lead down the most and aluminium faring the best. Gold rose to fresh record highs in response to higher US and Chinese inflation. The Comex gold futures price rose by US$13.60 an ounce to US$1,486.00. Gold rose by 0.8pct over the week.

Ahead: In Australia, Woolworths releases quarterly sales figures. In the US, the NAHB housing market index is released.

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