Asia traders on Friday will be looking to a sliding dollar and advancing U.S. equities following the release of stateside data.
Other major news from the U.S. included Treasury Secretary Steven Mnuchin saying that a “very detailed” tax plan had been prepared by President Donald Trump’s administration. In the Thursday interview with CNBC, Mnuchin also said the plan had been introduced to Congress and will be shown to the public at the end of September.
Investors stateside also digested inflation and consumer spending figures released Thursday. Consumer spending rose 0.3 percent in July, a touch below the 0.4 percent forecast, Reuters said. Meanwhile, the personal consumption expenditures price index rose 1.4 percent compared to the previous year, below the 1.5 percent rise seen in June.
Ahead, markets will be awaiting August nonfarm payrolls due during U.S. hours.
Major indexes on Wall Street rallied overnight: The Dow Jones industrial average rose 0.25 percent, or 55.67 points, to close at 21,948.10, the S&P 500 advanced 0.57 percent, or 14.06 points, to end at 2,471.65 and the Nasdaq jumped 0.95 percent, or 60.35 points, to close at 6,428.66.
Meanwhile, the dollar edged down overnight on the back of U.S. data releases. The dollar index, which tracks the dollar against a basket of currencies, fell as low as 92.561 overnight after rising above the 93 handle earlier in the session. The dollar index stood at 92.668 at 7:02 a.m. HK/SIN.