European and Asian shares rose on Wednesday thanks to positive news about inflation and China's strict anti-COVID measures, while the dollar backpedalled as investors await minutes from the Federal Reserve's most recent meeting.
was up 0.9% by 0835 GMT as a lower inflation reading from France boosted sentiment, adding to encouraging data from Germany earlier in the week.was 1.8% higher and set for a third straight day of gains for the year, having fallen 20% in 2022, its worst performance since 2008.
Minutes from the Fed's December meeting, when it cautioned rates may need to stay higher for longer, are due to be released later on Wednesday. Investors will parse the minutes to figure out whether more policy tightening is likely. U.S. shares, which have started the year more tentatively amid big falls in key stocks such as Tesla, looked set to open with modest gains. E-mini futures for the S&P 500 rose 0.5%.
Investors will get a better picture of the U.S. labour market this week, with several pieces of data scheduled, culminating in the employment report on Friday.
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