The U.S. inflation rate slowed slightly on a yearly basis as expected in November, in a key release that will likely factor into how Federal Reserve officials see interest rates evolving next year.

U.S. small business sentiment edged down in November to the lowest level in six months, stoked by continued difficulties in hiring skilled labor and concerns about inflation.

Oil prices fell more than 3% on Tuesday to their lowest level in six months on concerns of oversupply and after U.S. economic data showed an unexpected rise in consumer prices.

The dollar remained on the back foot versus major rivals on Wednesday, as traders braced for the conclusion of a Federal Reserve policy meeting and clues on when the U.S. central bank will begin cutting interest rates.

Asian shares crept higher on Tuesday while the dollar eased as investors stayed cautious ahead of a crucial U.S. inflation report later in the day that will set the tone for the week filled with central bank meetings.

Automotive supplier Bosch needs to cut up to 1,500 jobs at two of its German sites by 2025 to adapt staffing levels to changing demand and technologies in the auto sector, the company said on Sunday.