(fxcue news) - European stocks may open on a sluggish note Thursday as investors await more U.S. economic data and comments from Federal Reserve officials for additional clues on whether the Fed is behind the curve on inflation and interest rates. After recent soft monthly payrolls data, weekly jobless claims numbers due later in the day may offer greater clarity on the extent of the U.S. economic downturn and the rate trajectory. Closer home, the European Central Bank can continue lowering interest rates if there is increased confidence among policymakers that inflation is slowing, ECB Governing Council member and Bank of Finland governor Olli Rehn said Wednesday. More rate cuts cannot hurt the fragile economic growth and the subdued investment, especially in industry, Rehn said in a speech in the Finnish city Mikkeli. Asian markets were broadly lower as the yen resumed its rally and tech stocks declined following disappointing earnings from Super Micro Computer Inc. Chinese and Hong Kong markets were seeing modest gains, with sentiment underpinned by a firmer yuan and expectations of China's economic resilience. The dollar traded weak and bond yields fell after a weak Treasury auction. Gold edged up on dovish Fed expectations, U.S. recession fears and heightened geopolitical tensions. Oil extended gains after climbing more than 2 percent on Wednesday as data showed a bigger-than-expected draw in U.S. crude stockpiles. Investors also pondered over the possibility of a retaliatory strike from Iran on Israel amid soaring tensions in the region following last week's assassination of Hamas' leader in Tehran. U.S. stocks ended notably lower overnight, failing to hold early gains following a poorly received U.S. Treasury bond auction. The tech-heavy Nasdaq Composite dipped 1.1 percent, the S&P 500 shed 0.8 percent and the Dow dropped 0.6 percent. European stocks rose for a second day on Wednesday as U.S. recession worries eased and BOJ Deputy Governor Uchida Shinichi indicated that policymakers won't raise rates when financial markets are volatile. The pan European STOXX 600 gained 1.5 percent. The German DAX rallied 1.5 percent, France's CAC 40 jumped 1.9 percent and the U.K.'s FTSE 100 climbed 1.8 percent.