Euro slips after ECB meeting, oil down, stocks steady
By Caroline Valetkevitch
NEW YORK (Reuters) - The euro turned lower against the U.S. dollar on Thursday after ECB president Draghi pledged to keep monetary policy loose, while oil prices slipped on further evidence of oversupply and a stronger dollar.
U.S. stocks were little changed following mixed earnings from companies including Verizon Communications (VZ.N: Quote), which fell 2.5 percent after it said a strike by its wireline workers was expected to hurt earnings in the current quarter.
FOCUS MOVES TO FED
The euro fell as traders looked past the European Central Bank meeting and weighed the potential for a more hawkish Federal Reserve next week, while the yen gained.
"There's a risk that the Fed could signal a stronger chance of a June rate rise than markets currently expect," said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
CME Fed funds futures contracts on Thursday suggested traders were pricing in just a 21 percent chance of a Fed interest rate hike in June, according to CME Group's FedWatch program.
The euro EUR= was down 0.12 percent against the U.S. dollar $1.1280 late morning. Continued...