(Kitco News) - European markets were quieter overnight, as traders and investors were awaiting the European Central Bank monetary policy meeting results as of this writing. ECB President Mario Draghi will hold a press conference following the ECB meeting. The marketplace is not expecting any big changes in ECB monetary policy at this meeting. The marketplace does look for the ECB to make policy changes in December.
Asian stock markets were mostly firmer Thursday, following the lead from U.S. stock market gains Wednesday. A perceived debate win by U.S. presidential candidate Hillary Clinton over Donald Trump also aided Asian equities.
Higher crude oil prices recently have also bolstering world stock markets. However, crude oil prices are under a bit of profit-taking pressure Thursday morning.
The U.S. dollar index is slightly firmer today, supported by hawkish remarks from Federal Reserve official William Dudley Wednesday evening.
Gold prices are slightly higher Thursday morning. The bulls are having the better week in the yellow metal. Demand for gold from India is expected to increase in the coming weeks due to India's festival season.
U.S. economic data due for release Thursday includes the weekly jobless claims report, the Philadelphia Fed business survey, leading economic indicators, and existing home sales.
By Jim Wyckoff, contributing to Kitco News; [email protected]
Follow Jim Wyckoff @jimwyckoff