Asian equities followed Wall Street`s gains overnight and edged higher on Friday while the dollar`s advance slowed ahead of the U.S. jobs report due later in the session.
The nonfarm payrolls report is the last before the U.S. Federal Reserve`s next policy meeting and may influence the timing of the Fed`s rate hike.
MSCI`s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> rose 0.2 percent.
Australian shares <.axjo> added 0.35 percent and South Korea`s KOSPI <.ks11> advanced 0.25 percent. Japan`s Nikkei <.n225> climbed 0.4 percent.
Wall Street shares closed higher overnight as investors responded to strong economic data and drew some cautious hope from the Trump administration`s latest promises for long-awaited details of a tax reform plan. [.N]
U.S. consumer spending rose slightly less than expected in July and annual inflation advanced at its slowest pace in more than 1-1/2 years, diminishing expectations of an interest rate increase in December.
The dollar`s recent advance slowed as rate hike expectations were dented. The greenback was up 0.15 percent at 110.130 yen
The euro was steady at $1.1909
The financial markets looked to the U.S. jobs report due at 1230 GMT for further clues on the state of the world`s largest economy.
Economists polled by Reuters expect U.S. nonfarm payrolls increased by 180,000 jobs in August after surging 209,000 in July and average hourly earnings to have increased 0.2 percent after rising 0.3 percent in July.
"The wages component of the jobs report will be key. If earnings are to have picked up along with employment, we will see a straightforward reaction with U.S. stocks and yields rising and the dollar being bought," said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.
The dollar index against a basket of six major currencies was a shade lower at 92.629.The index slipped about 0.2 percent on Thursday and was poised to end 0.1 percent lower on the week in which it hit a 2-1/2-year low of 91.621 on geopolitical tensions before bouncing back.
In commodities, crude oil prices stood tall after rallying overnight as traders scrambled to reroute millions of barrels of fuel with almost a quarter of U.S. refining capacity remaining offline. [O/R]
Hurricane Harvey, which brought record flooding to the U.S. oil heartland of Texas, has shut down at least 4.4 million barrels per day of refining capacity, according to company reports and Reuters estimates.
Gold hovered near a 9-1/2-month high, supported as the dollar came off its recent highs and by lingering concerns over tensions in the Korean Peninsula. [GOL/]
Spot gold was steady at $1,321.10 an ounce
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)