WORLD FINANCE UPDATE:
The Australian dollar has rallied in response to a global risk-on theme that also sent commodities higher.
At 0630 AEST on Friday, the currency was trading at 71.65 US cents, up from 71.13 cents on Thursday.
And the Australian share market looks set to open higher after on international markets, including China's, with good economic data also helping to boost US and European shares.
At 0645 AEST on Friday, the share price index futures contract was up 94 points at 5,280.
ELSEWHERE:
WASHINGTON - The US economy grew much stronger than expected in the second quarter, bouncing back from a weather-battered first quarter.
WASHINGTON - Fewer people sought US unemployment benefits last week, evidence that employers remain confident in the economy and are laying off few workers.
PARIS - EU Economic Affairs Commissioner Pierre Moscovici says Europe has the "means to resist" the impact of China's slowing economy.
WASHINGTON - The Swiss bank UBS has agreed to pay US authorities $US1.7 million ($A2.39 million) to settle "apparent" violations of rules banning transactions benefiting officially designated terrorists.
BRUSSELS - US internet search giant Google has rejected accusations by EU anti-trust regulators that it illegally abuses its market dominance.
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