Commodity currencies such as the Australian, the New Zealand, and the Canadian dollar strengthened against their major counterparts in the Asian session on Friday, following a meeting on Thursday of policy makers at the European Central Bank.

In the meeting, European Central Bank chief Mario Draghi hinted that decisions about the future of the ECB's massive stimulus may be decided in October.

In other economic news, data from the Australian Bureau of Statistics showed that the total number of home loans in Australia climbed a seasonally adjusted 2.9 percent on month in July, coming in at 56.464. That beat forecasts for an increase of 1.0 percent following the 0.5 percent gain in June.

Data from Statistics New Zealand showed that the manufacturing volume in New Zealand was up a seasonally adjusted 1.0 percent on quarter in the second quarter of 2017. That follows the upwardly revised 0.2 percent decline in the first quarter.

Data from the General Administration of Customs showed that China's exports grew at a slower pace in August. Exports increased 5.5 percent year-on-year in August, slower than July's initially estimated 7.2 percent growth. Shipments were forecast to grow 6 percent.

At the same time, imports advanced 13.3 percent annually, faster than the expected growth of 10 percent.

As a result, the trade surplus totaled $42 billion in August versus the expected level of $48.5 billion.

In the Asian trading, the Australian dollar rose to nearly a 2-1/2-year high of 0.8116 against the U.S. dollar and a 1-week high of 87.72 against the yen, from yesterday's closing quotes of 0.8047 and 87.25, respectively. If the aussie extends its uptrend, it is likely to find resistance around 0.82 against the greenback and 89.00 against the yen.

Against the euro and the Canadian dollar, the aussie edged up to 1.4879 and 0.9797 from yesterday's closing quotes of 1.4938 and 0.9747, respectively. The aussie may test resistance around 1.47 against the euro and 1.00 against the loonie.

The NZ dollar rose to more than a 2-week high of 0.7324 against the U.S. dollar and an 8-day high of 79.16 against the yen, from yesterday's closing quotes of 0.7232 and 78.42, respectively. If the kiwi extends its uptrend, it could find resistance around 0.74 against the greenback and 80.00 against the yen.

Against the euro and the Australian dollar, the kiwi advanced to 2-day highs of 1.6487 and 1.1069 from yesterday's closing quotes of 1.6620 and 1.1124, respectively. The kiwi is likely to find resistance around 1.62 against the euro and 1.09 against the aussie.

The Canadian dollar rose to nearly a 2-1/2-year high of 1.2065 against the U.S. dollar and a 2-day high of 89.66 against the yen, from yesterday's closing quotes of 1.2113 and 89.47, respectively. If the loonie extends its uptrend, it may find resistance around 1.19 against the greenback and 90.00 against the yen.

Against the euro, the loonie advanced to 1.4551 from yesterday's closing value of 1.4563. The loonie may test resistance near the 1.44 region.

Looking ahead, U.K. industrial production, trade balance and construction output for July are due to be released at 4:30 am ET.

Reserve Bank of Australia Governor Philip Lowe will deliver brief remarks at the Bank of China Sydney Branch's 75th Anniversary Celebration Dinner.

In the New York session, U.K. NIESR GDp estimate for August, Canada jobs data for August, U.S. wholesale trade sales data for July and U.S. Baker Hughes rig count data are slated for release.

At 8:45 am ET, Federal Reserve Bank of Philadelphia President Patrick Harker is scheduled to deliver opening remarks at a consumer finance research conference hosted by the Federal Reserve Bank of Philadelphia.

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