Start the conversation
(Kitco News) – Global equity markets were mostly weaker overnight, heading into an uncertain weekend that sees a major hurricane bearing down on Florida and a still-very-worrisome U.S.-North Korea geopolitical situation. U.S. stock indexes are pointed toward weaker openings when the New York day session begins.
Gold prices are higher and hit a 12-month high overnight, on more safe-haven demand and amid a depreciating U.S. dollar on the foreign exchange market.
The key outside markets on Friday morning see the U.S. dollar index solidly lower and at a fresh 2.5-year low. The sharp declines in the greenback this week are becoming a worrisome factor for world financial markets. Combined with Hurricane Harvey smashing Texas last week, Hurricane Irma giving Florida a direct hit in the coming days could produce enough economic damage in the U.S. to prevent the Federal Reserve from raising interest rates again this year.
Meantime, Nymex crude oil futures are slightly lower this morning.
U.S. economic data due for release Friday is light and includes the monthly wholesale trade report and consumer credit.