Stocks in Asia went slightly higher following the dollar’s rally at the early stages of Thursday’s session.
On the previous day, U.S. President Donald Trump unexpectedly fired two of his senior economic advisors. This resulted in a marginal rise of the dollar after dropping overnight against its peers.
The strengthening dollar early in the session helped the Japanese benchmark, Nikkei 225 index, go higher by 0.02 percent. The Aussie benchmark ASX 200 index edged up by 0.17 percent, with its health care and material sub-indexes as the leading advancers. However, the shares of Australia’s leading provider of mobile phones, Telstra, dropped as much as 9.70 percent following its decision to trim dividends.
Markets in Indonesia were shut due to a public holiday.
The sterling recorded tidy gains that allowed it to climb above its 7 year low from Wednesday. It added 0.2 per cent to its value versus the euro closing at 0.9103. Versus the greenback it went higher by 0.22 percent closing at 1.289 per $1.
A positive employment report published by the British government help the pound gain momentum. According to the official data, in the months April – June, 125,000 new jobs were added to the British labor market. Unemployment rate decreased to 4.4% in the second quarter compared to 4.5% in the first quarter.
The price of gold was already on the positive territory as the session started on Thursday after the dollar’s rally was halted.
U.S. gold futures jumped more than 0.8 percent and finished at $1,293.30 an ounce for its December delivery. Spot gold rose by 0.4 percent to settle at $1,287.21 an ounce following its 1 percent jump last Wednesday.
Palladium escaped a 1-week low as it added 2.99 percent at $912 an ounce.