Asian shares traded sideways on Thursday, following key earnings on Wall Street and as oil prices came off two-week lows set earlier in the session.
Oil prices recouped some losses after falling to a two-week low, down nearly 4 percent, following an unexpected build in U.S. gasoline inventories and an increase in U.S. crude production. Brent crude was up by 0.72 percent to trade at $53.31 a barrel while U.S. crude rose 0.65 percent at $50.77.
Investors are also expected to eye politics in Europe as tensions on the Korean peninsula appear to ebb, following news that a U.S. aircraft carrier group had not actually been headed to seas near the Korean Peninsula.
The first round of the tight French presidential election this weekend could influence movements in euro/dollar, said IG Chief Market Strategist Christ Weston in a Thursday morning note. Centrist Emmanuel Macron and far-right candidate Marine Le Pen, who advocates leaving the euro zone, are most likely to go through to the second round of the election, he added.
"(I)t seems unlikely euro/dollar will break the $1.05 to $1.085 range on this outcome. I would however favor euro appreciation here and a brief rally in the CAC 40 cash, given the polls have consistently shown an easy win for Macron," Weston said. Euro/dollar last traded at $1.0726.