U.S. consumer confidence increased to a two-year high in January amid slowing inflation and expectations that the Federal Reserve would start cutting interest rates soon.

 U.S. job openings unexpectedly increased in December and data for the prior month was revised higher, suggesting that the labor market likely remains too strong for the Federal Reserve to start cutting interest rates in the first quarter.

British businesses started 2024 with their confidence at the highest level in nearly two years but their plans for more staffing are not translating into accelerating wage growth, according to a survey published on Wednesday.

China's manufacturing activity contracted for the fourth straight month in January, an official factory survey showed on Wednesday, suggesting the sprawling sector and the broader economy were struggling to regain momentum at the start of 2024.

Asian central banks may see scope to loosen monetary policy later this year as inflation moderates, the International Monetary Fund said on Wednesday and called on China to give a clear message in how it plans to address its property woes.

The dollar headed for its biggest monthly gain since September and the yen for its sharpest drop in over a year on Wednesday, as traders waited on a U.S. rates decision to round out January.