European Shares Seen Tad Higher At Open

European stocks look set to open a tad higher on Thursday after steep losses in the previous session.

Asian markets are trading mixed while commodities extended declines after the Federal Reserve’s latest meeting minutes flagged the possibility of a debate on scaling back asset purchases.

The benchmark 10-year Treasury yield held steady after climbing to 1.67 percent.

The dollar bounced off three-month lows against European currencies and gold scaled a four-month high on inflation anxiety, while oil edged up slightly after slumping to the lowest in three weeks on concerns of Iranian supply return and data showing rising U.S. stockpiles.

Bitcoin, the biggest and most popular cryptocurrency, stabilized somewhat after plunging 14 percent on Wednesday to its lowest since late January.

In economic releases, the European Central Bank releases euro area current account data for March later in the day. The current account surplus totaled EUR 25.9 billion in February.

IMF Managing Director Kristalina Georgieva and ECB President Christine Lagarde will be speaking at the Vienna Economic Dialogue. Euro-area finance ministers and central bank chiefs hold an informal meeting.

U.S. stocks ended lower overnight as Treasury yields rose following the release of Fed’s April meeting minutes. Some officials said talking about tapering might be needed at an upcoming meeting if the economy continues to show signs of recovery and inflation keeps trending higher.

The Dow plunged more than 580 points before ending half a percent lower and the S&P 500 dipped 0.3 percent, while the tech-heavy Nasdaq Composite index ended flat with a negative bias.

European stocks ended Wednesday’s session sharply lower as investors grew wary of rising inflationary pressures and a sudden crash of cryptocurrencies including Bitcoin.

The pan European Stoxx 600 tumbled 1.5 percent. Germany’s DAX fell 1.8 percent, France’s CAC 40 index dropped 1.4 percent and the U.K.’s FTSE 100 gave up 1.2 percent.