The dollar recovered from a two-week low against a basket of six major currencies.
This comes on the back of an agreement struck between OPEC and non-OPEC countries to cut crude production output.
Gold was set to close 2016 up more than 9 percent for its first annual gain in four years, edging higher on the back of a weaker dollar.
U.S. stock index futures pointed to a higher open on Friday, with data and oil set to be on the agenda as traders look ahead to 2017.
European bourses closed higher on the last trading day of 2016 after opening in the red.
South Korean shares wavered on Monday, while India shares stumbled, but Hyundai Motors jumped after releasing higher annual sales targets.
Asian shares were mixed on the last trading day of the year, with Hong Kong and Taiwan in the lead.
U.S. stocks were lower Thursday as investors digested economic data and looked ahead to 2017.
U.S. stock index futures pointed to a flat open on Thursday, as investors prepared to wade through more data.
U.S. government debt prices were higher on Thursday, as investors got ready for more economic data.
Markets in Europe ended lower Thursday as the light Christmas trading period continues.
Weaker-than-expected economic data weighed on the greenback and waning risk appetite boosted Japan's safe-haven currency.
Crude stocks rose more than expected in the week to Dec. 23, as refineries cut output crude imports fell.
But, gains were limited on expectations of more rate hikes by the U.S. Federal Reserve next year.
U.S. government debt prices were higher on Wednesday, as investors digested the auction. Yields fell to session lows.
U.S. stock index futures pointed to a slightly higher open on Wednesday, with investors preparing for more economic data.
Asia markets struggled on Thursday closed mixed, with the Nikkei down more than 1 percent after Toshiba tumbled on credit downgrades.
European shares open mixed Wednesday as trading resumes after the Christmas break.
The U.S. dollar hit its highest level in two months against the sterling on Wednesday on concerns over next year's Brexit negotiations.
Crude oil prices edged up for a fourth consecutive session on Wednesday, close to their highest intraday levels since mid-2015.