FX.co ★ Australian Shares Edge Higher, Set for Second Weekly Gains

On Friday, the S&P/ASX 200 inched up by 0.2% to reach 8,612, building on a subdued showing from the previous day. This upward movement was spurred by robust US job growth figures and an unexpected dip in the unemployment rate, which bolstered confidence in the enduring strength of the US economy. These developments came despite evidence of slowing private-sector hiring and ongoing global trade uncertainties. In Australia, investors turned their attention to the forthcoming monthly household spending indicator, set to be released later today, and the Reserve Bank of Australia's monetary policy meeting scheduled for next week. Market analysts largely anticipate a rate cut of 25 basis points, likely reducing the cash rate to 3.60%. Noteworthy stock performers included Newmont Corporation and Goodman Group, each advancing by 1.2%, and Wesfarmers Limited, which rose by 1%. Conversely, BHP Group Limited dropped by 1.6%, while Pro Medicus Limited and Rio Tinto Limited both saw declines of 1.7%. For the week, the index is poised to record its second consecutive weekly gain.