Oil drags on Wall Street, euro down ahead of ECB meeting | Reuters

By Sinead Carew | NEW YORK NEW YORK Oil futures snapped a four-day rally on Tuesday on signs of higher output while the euro slipped from a three-week high ahead of a meeting of the European Central Bank on Thursday. Wall Street showed slim gains as energy stocks weighed while European stocks were on track for a second day of gains helped by strong German data, and U.S. Treasury yields held in narrow ranges ahead of the ECB meeting.The euro fell to $1.072 as currency investors focused on the possibility the ECB may take a more hawkish turn, even as it is widely expected to extend its bond purchases.“The short-term market is still short euros and I think they might be nervous - time to square up a little bit more ahead of the ECB meeting,” said Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York.The S&P 500's weakest sector was energy, which fell 0.6 percent as oil prices tumbled after data showed crude output rose in virtually every major export region and on news that Saudi Aramco had cut prices to big Asian customers.

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