Asian shares were mixed on Wednesday, with investors cautious on China amid the ongoing Party Congress, while European markets are set to extend the optimism on earnings ahead of British inflation readings.
"While shares have managed to find technical support in recent days and could bounce further ... the near-term downside risks for shares remain high," said Shane Oliver, chief economist at AMP Capital.
"But a core view of not just the Fed, but other central banks hiking into a looming recession should mean that the core dollar bull trend remains intact." Sterling gained 0.12% against the greenback to trade at $1.1333 after easing slightly in the previous session. "Amid rapidly fluctuating views/market price on what the Bank of England will decide to do with rates on 2 November, a key data point of reference will be today's September UK inflation data," said Ray Attrill, head of FX strategy, at National Australia Bank.report from New Zealand on Tuesday prompted markets to sharply revise up the expected tightening pace for the Reserve Bank of New Zealand.
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