FX.co ★ Australian Shares Hit 2-Month High

The S&P/ASX 200 Index advanced by 1.13% on Friday, closing at 8,238 and marking its seventh consecutive session of gains. This represents the highest level the index has reached in nearly two months. The upward momentum was fueled by positive prospects for global trade, highlighted by China's indication of a willingness to engage in negotiations with the United States, following various diplomatic initiatives by Washington. Further encouraging developments were noted as U.S. President Donald Trump suggested potential trade agreements with India, Japan, and South Korea, while also expressing optimism regarding a resolution with China. On the domestic front, retail sales grew by 0.3% in March, just shy of the anticipated 0.4% increase. This data has strengthened the expectation of an imminent rate cut by the Reserve Bank of Australia. The index's growth was broad-based, with notable performances from leading corporations such as Commonwealth Bank (+1.4%), ANZ Group (+2.2%), CSL Ltd (+2.1%), Woolworths Group (+2%), and Evolution Mining (+2.6%).