Banks again led the ASX higher in a session full of corporate action, while solid job numbers briefly lifted the Aussie dollar to a fresh high.
Jens is the markets and breaking news editor, based in Sydney.
Big banks shares enjoyed their best day in eight months, gaining $14 billion in value on relief that new capital requirements weren't as tough as many had feared.
Shares in the big banks rocket higher as investors bet they won't need to raise capital to meet APRA's new requirements.
Losses on the ASX accelerate, pulling the index below 5700 points, while the Aussie rallies to a fresh two-year high.
Strong data out of China failed to motivate the local sharemarket, with Telstra's worst day in three months weighing on the ASX.
Shares trade flat and the Aussie dollar trades close to two year highs, supported by better-than-expected Chinese economic data.
Shares trim early gains but remain on track for a solid weekly rise, while the Australian dollar is at four-month highs.
The Aussie dollar joins a rally in stocks, after dovish comments by Fed chair Janet Yellen lifted the Dow to a record.
Local shares fall with materials the only sector posting a gain, after a choppy session on Wall Street that was dominated by politics.
Miners such as BHP are a bright spot in a market stuck in a tight trading range ahead of key central bank events.