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(Kitco News) – Asian and European stock markets were mostly firmer overnight. Thailand's stock market saw a strong rebound following big losses seen earlier this week. Thailand's long-time king died Thursday. Traders and investors in those regions were awaiting a batch of U.S. corporate earnings-namely big banks– and U.S. economic data due out Friday. J.P. Morgan reported early Friday its third-quarter profits, which fell short of market expectations.
U.S. data due for release Friday includes the producer price index, retail sales, manufacturing and trade inventories, and the University of Michigan consumer sentiment survey. These reports are important and could move the markets today.
In other overnight news, China's consumer price index was up 1.9% in September, year-on-year. The producer price index was up 0.1% in the same period. The data was deemed upbeat by China market watchers, and helped to lift China's equity markets.
Euro zone exports rose in August for the first time since April, somewhat assuaging Brexit worries. Exports were up 2.3% from July, year-on-year.
Gold prices are modestly lower as the metal continues to struggle from a stronger U.S. dollar and bearish charts. Overnight gold spot prices on Kitco.com traded in a fairly tight range with a high at $1,257.30 an ounce and low at $1,251.10 an ounce.
The U.S. dollar index is solidly higher Friday morning and hovering just below this week's seven-month high. The appreciating greenback is a bearish outside market force that is working against the precious metals and the raw commodity sector.
By Jim Wyckoff, contributing to Kitco News; firstname.lastname@example.org