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SYDNEY/SINGAPORE (Reuters) -The dollar tried to extend a rally on Wednesday as chatter about the possibility of higher U.S. interest rates and a sell-off in tech stocks soured risk sentiment to the benefit of the safe-haven currency.
FILE PHOTO: U.S. one dollar banknotes are seen in front of displayed stock graph in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
The dollar s bounce on Tuesday put pressure on the euro, which dropped to $1.2021 EUR=EBS and threatened to breach important chart support in the $1.1995/1.2000 area.
“If sustained, this could suggest today’s session may be important for near-term direction, particularly if EURUSD managed to close below the key $1.20 pivot,” said Ned Rumpeltin, European head of FX strategy at TD Securities.
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NASDAQ futures edge up after selloff in high caps Dollar hits highest in over two weeks Oil at near 7-wk high
LONDON/SYDNEY, May 5 (Reuters) - Global shares edged up on Wednesday as U.S. stock futures steadied after a pullback in tech darlings while European markets were buoyed by accelerating business activity and positive earnings.
The Euro STOXX index added 1.3%, heading for its best day in nearly two months, helped by data showing euro zone business activity quickened last month, while the services industry returned to growth.
Top performers included Germany’s Rational and Merck after well-received numbers.
The MSCI world equity index, which tracks shares in 49 countries, was trading 0.1% higher after a sell-off on Tuesday from near record highs.
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