U.S. new vehicle sales are expected to rise just 1% to 15.7 million units next year, car shopping website Edmunds said on Wednesday, as demand is likely to come under pressure from high interest rates even as vehicle supply improves.

Early holiday shopping season discounts from high-end fashion retailers like Bergdorf Goodman on New York's Fifth Avenue raised concern that a lacklustre Christmas could lead to inventory gluts – potentially dragging labels into a discounting spiral that would cheapen their image.

Oil prices rose in early Asian trade on Thursday, extending gains from the previous session following a bigger-than-expected weekly withdrawal from U.S. crude storage and signaling from the U.S. Federal Reserve that it would start lowering borrowing costs in 2024.

The dollar was under pressure on Thursday after the Federal Reserve's latest economic projections indicated that the interest-rate hike cycle has come to an end and lower borrowing costs are coming in 2024.

Asian shares were mixed on Wednesday, while oil prices slid to six-month lows as traders waited for the year's final policy decision from the Federal Reserve and clues on whether the central bank will cut rates next year.

British wage growth slowed by the most in almost two years, official data showed on Tuesday, but pay is probably still rising too fast for the Bank of England to relax its tough stance against cutting interest rates.