Australia's share market closed at its highest level since February 2020 and appears set to challenge records.
The benchmark S&P/ASX200 index closed up 46.2 points, or 0.66 per cent, to its highest mark since the coronavirus crash, 7023.1.
The index reached a session high of 7027.4 before easing.
The previous best close since February last year was as recently as Thursday, at 6998.8.
Yet on Wednesday investors were happy for the index to close higher than 7000 points, and appear to have momentum to push higher.
The ASX200's record close is 7162.49, set on February 20 last year, just before investors hurriedly sold shares due to fear of the coronavirus.
CCZ Statton Equities' John Zemek expected the record to be challenged.
"I would expect the momentum to keep going. I don't think there are too many barriers," he said.
Government and central bank stimulus, as well as coronavirus vaccinations, were all helping markets, Mr Zemek said.
The All Ordinaries on Wednesday closed higher by 49.6 points, or 0.69 per cent, to 7280.6 points.
All sectors were up. Information technology was best, up 2.05 per cent.
Major sectors health and materials gained more than one per cent.
Meanwhile, the Australian dollar climbed from buying 75.90 US cents last night to as much as 76.83 US cents about 1700 AEST.
Westpac head of foreign exchange Richard Franulovich credited reaction to US inflation figures.
The greenback fell after the US consumer price index jumped 0.6 per cent in March from February.
While the gain was the largest since August 2012, Mr Franulovich said the rise was expected.
"The market has long been prepped to expect higher inflation numbers," he said.
A 30-year bond option, released around the same time as the data, proved popular and kept yields down.
US markets closed mostly higher as investors shook off any concerns about inflation.
In Australia, consumer confidence bloomed to an 11-year high, despite the unwinding of government support measures and stumbling progress on vaccinations.
The April Westpac-Melbourne Institute consumer sentiment survey showed confidence rose 6.2 per cent to the highest level since August 2010.
On the ASX, goldminer Resolute Mining jumped 14.89 per cent to 54 cents after the Ghanaian government restored a lease for the company.
Ghanaian officials in March cancelled the lease for the Bibiani goldmine due to concerns about Resolute selling the mine to Chinese company Chifeng Jilong Gold Mining for $US105 million.
However, the officials have since restored the lease on conditions including that the government objects to the sale to Chifeng.
BrainChip, which is developing an artificial intelligence processor, surged 19.81 per cent to 63 cents after it said it had begun manufacturing.
The company said the chips would be available in August.
The processors are intended for robotics, sensors, autonomous cars and more.
In mining, BHP rose 0.7 per cent to $46.01. Rio Tinto climbed by the same percentage to $114.33. Fortescue lost 0.59 per cent to $20.24.
In banking, NAB had the biggest move of the big four banks. It lost 0.26 per cent to $26.72.
Buy now, pay later provider Zip shares were in a trading halt, pending an announcement. Shares closed down by 1.23 per cent to $9.61.
On Thursday, economists expect the unemployment rate to fall. Figures for March are expected to show the jobless rate declined to 5.7 per cent.
On the market, energy producers Santos and Woodside will have annual general meetings.
The Bank of Queensland will announce its first-half earnings.
The Australian dollar was buying 76.83 US cents at 1720 AEST, higher from 76.13 US cents at Tuesday's close.
ON THE ASX
* The benchmark S&P/ASX200 index closed up 46.2 points, or 0.66 per cent, to 7023.1.
* The All Ordinaries closed higher by 49.6 points, or 0.69 per cent, to 7280.6 points.
* At 1720 AEST, the SPI200 futures index was down by seven points, or 0.1 per cent, to 6986.
One Australian dollar buys:
* 76.83 US cents, from 76.13 cents on Tuesday
* 83.64 Japanese yen, from 83.35 yen
* 64.19 Euro cents, from 63.95 cents
* 55.68 British pence, from 55.33 pence
* 108.19 NZ cents, from 108.41 cents.