Dollar heads for worst week in five as stocks cheer record streak

World stocks advanced for a fourth straight day on Friday on expectations of broad-based global growth, while the dollar was on course for its worst week in five as investors awaited U.S. inflation data.

MSCI’s world equity index, which tracks shares in 47 countries, was up 0.1 percent after hitting record highs on Thursday. 

Earlier in Asia, MSCI’s broadest index of Asia-Pacific shares outside Japan hit a 10-year high.

European shares rose to their highest level in nearly four months, helped by some well-received earnings updates. The pan-European STOXX600 rose 0.3 percent and was set for its fifth straight week of gains as were world stocks. 

Germany’s DAX index was up 0.1 percent, just below an all-time high hit in the previous session, while Britain’s FTSE eased back 0.1 percent after a record close on Thursday. 

Wall Street futures indicated a positive open for the S&P 500 index.

Emerging market stocks were buoyant too as another 0.2 percent rise set their latest 6-year peak.

In currencies, the dollar stayed on the defensive after minutes from the last U.S. Federal Reserve meeting showed policymakers remained divided on U.S. inflation prospects. 

The index which measures the greenback against a basket of six major currencies was flat ahead of consumer price inflation data, due at 1230 GMT.