The euro remained on the defensive early on Thursday, having made an about-face as investors adjusted positions in the lead up to a policy meeting by the European Central Bank.
The ECB is widely expected to hold interest rates unchanged at record lows, but President Mario Draghi is likely to drive home the case for ultra-loose monetary policy.
U.S. home resales rebounded more than expected in March as supply improved, suggesting the housing market recovery remained intact despite signs that economic growth probably stalled in the first quarter.
The National Association of Realtors said on Wednesday that existing home sales surged 5.1 percent to an annual rate of 5.33 million units last month, beating economists' expectations for a 3.5 percent increase. Sales were up 1.5 percent from a year ago.
Oil prices rose 4 percent on Wednesday after a smaller-than-expected build in U.S. crude inventories offset glut worries stirred by the end of a Kuwaiti strike, and as oil bulls bet that major crude producers would meet again to try to curtail output.
Brent's front-month contract settled up $1.77, or 4 percent, at $45.80 a barrel. It had fallen to a session low of $42.81.
U.S. crude's front-month contract, May, which expired at Wednesday's settlement, finished up $1.55, or 3.8 percent, at $42.63 a barrel. The session low was $39.85.
Oil prices rebounded after the U.S. Energy Information Administration (EIA) said crude stocks rose 2.1 million barrels last week, compared with forecasts for a 2.4 million-barrel build and industry group American Petroleum Institute's data showing a 3.1 million-barrel rise.
Reference: Reuters
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