Euro gains on ECB minutes

The euro jumped after minutes from the European Central Bank’s December meeting, weighing on stocks in the region as investors struggled to put Wednesday’s turbulence behind them. US equity futures rose, Treasuries steadied and oil hit a three-year high.

The single currency headed for a second day of gains after the minutes showed guidance on future actions will change slowly. The Stoxx Europe 600 Index nudged lower, while US futures pointed to slight rise at the open.

While traders have tried to shake off some of the concerns that led to Wednesday’s declines, they’re still struggling to find fresh reasons to extend a rally that took global stocks to or near record highs earlier this week. A string of earnings releases starting with JPMorgan Chase & Co. and Wells Fargo & Co. today might offer them more direction.

Elsewhere, the Canadian dollar and Mexican peso added to declines triggered by a report that Canadian officials see rising odds the Trump administration will leave Nafta.

The Stoxx Europe 600 Index fell 0.1 percent as of 7:48 a.m. New York time. The MSCI All-Country World Index decreased 0.1 percent, the largest dip in more than three weeks.

The UK’s FTSE 100 Index gained 0.1 percent to the highest on record. Futures on the S&P 500 Index climbed 0.2 percent to the highest on record.

The yield on 10-year Treasuries fell less than one basis point to 2.56 percent. Germany’s 10-year yield gained one basis point to 0.55 percent, the highest in almost six months. Britain’s 10year yield fell one basis point to 1.277 percent, the largest drop in more than a week.

West Texas Intermediate crude rose 0.6 percent to $63.94 a barrel. LME copper increased 0.1 percent to $7,163.00 per metric ton, the highest in a week. Gold rose 0.2 percent to $1,319.10 an ounce.