The Chinese renminbi (RMB) has been used more frequently in cross-border trade in the first eight months of this year amid the growing presence of the Chinese currency in the global market, a central bank report showed.

The People’s Bank

European stocks closed higher Friday after stronger-than-expected US job growth and a drop in the unemployment rate to 4.1 percent, suggesting there is no need for a major interest rate cut until the end of the year.

The pan-European Stoxx

European stocks opened higher Friday, supported by energy stocks after crude oil prices jumped on fears of a wider conflict in the Middle East.

The European Stoxx 600 index rose 0.2 percent. However, it is heading for its worst week

The US job rate rose in September, and the unemployment rate fell to 4.1 percent, further reducing the need for the Federal Reserve (the US central bank) to continue cutting interest rates by large percentages in its next two meetings