The Australian dollar is slightly lower, as the market awaits news from a summit of European leaders.
At 1200 AEDT on Friday, the currency was trading at 103.68 US cents, down from 103.81 US cents.
CMC chief market strategist Michael McCarthy said the Brussels summit, which is due to end Friday night (European time), was the current focal point for markets, although he did not expect big results.
'I expect we'll see big talk leading into it, and little delivery,' he said.
'We're taking it with a grain of salt.
'We've had calls from the French leadership to get action more quickly, but that's been balanced out by comments from Germany and Sweden that they don't want to pay.'
However, positive sentiment on global markets were coming from other directions, too.
'Markets have been buoyed recently by developments in the US and China,' Mr McCarthy said.
'So although I'm expecting disappointment early next week, I don't think that will be sustained.
'The rallies that we're seeing in risk assets generally will be sustained.'
This global sentiment was boosted on Thursday by official data showing that China's gross domestic product (GDP) was on target, with growth of 7.4 per cent, year-on-year in the June quarter.
The country's industrial production rose to 9.2 per cent in September, from the same month last year, while retail sales posted a 14.2 per cent rise year-on-year in the month.
Following the data's release on Thursday afternoon (AEDT), the Australian dollar rallied, reaching a high of 103.98 US cents.
Meanwhile, Australian bond futures prices were higher at noon.
At 1200 AEDT on Friday, the December 10-year bond futures contract was trading at 96.870 (implying a yield of 3.130 per cent), up from 96.855 (3.145 per cent) on Thursday.
The three-year bond futures contract was at 97.460 (2.540 per cent), up from 97.450 (2.550 per cent) at Thursday's close.