European equities are expected to open higher on Wednesday, dismissing global market jitters.
Europe is expected to buck the trend set by Asian equity markets overnight where market sentiment was pressured by Tuesday's declines on Wall Street on the back of the dollar's rise.
The U.S. dollar advanced more than 1 percent to 12-year highs against the euro after the European Central Bank's (ECB) quantitative easing program began on Monday; the pair remained below $1.07 in Asian trading on Wednesday. Investors are worried that a strong dollar could damage equities because it makes U.S. exports more expensive in foreign markets.
In other news, Greece continues to play on investors' minds as the country prepares to meet with technical teams from the troika of organizations that oversee the country's bailout – the European Commission, ECB and the International Monetary Fund (IMF) – in Brussels on Wednesday to discuss Greek reforms.
As it faces a cash crunch, Greece could tap into more than half a billion euros of funds sitting in the country's bank rescue fund as it scrambles to find money this month, banking and government sources told Reuters on Tuesday.
In other news, Russian tanks and heavy military equipment have crossed the Ukrainian border in the last few days in breach of a European-brokered ceasefire agreed earlier in February, a senior U.S. State Department official said on Tuesday, Reuters reported.
Elsewhere, Angela Merkel meets heads of IMF, World Bank, WTO, OECD and ILO in Berlin on Wednesday, the OECD's G-20 fourth quarter growth estimates are published and the British Chambers of Commerce publishes its quarterly economic forecast today
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