Premarket: European stocks rise, U.S. dollar climbs as Fed rate path pondered

European stocks rose on Wednesday, boosted by company earnings, while U.S. futures were flat and the dollar climbed as investors assessed the signals on the path for Federal Reserve interest rates.

Global stocks fell sharply in April as strong U.S. economic data caused investors to rein in their bets on rate cuts from the Fed and, by extension, other major central banks this year. “The market is trying to suss out whether data, particularly out of the U.S., is still coming out strong, or is coming out just right,” said Samuel Zief, head of global FX strategy at JPMorgan Private Bank.

In currency markets, the yen dropped 0.5 per cent to 155.42 per dollar even after Bank of Japan governor Kazuo Ueda said the central bank may take monetary policy action if currency falls affect prices significantly.

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