Cape Town - Global stocks rallied after private American hiring data bolstered confidence in the global economy. Oil headed for a three-week low as US output expanded.
European shares advanced and the MSCI Asia Pacific Index traded at the highest in two years after US benchmarks closed at records. The dollar held on to gains triggered by a report showing companies added more workers to US payrolls in May than forecast.
China’s offshore yuan tumbled the most since February amid signs that a funding crunch is beginning to abate. Oil was poised for the biggest weekly drop since May 5 as industrial metals including copper declined.