SYDNEY - Asian shares edged higher on Wednesday as anxious investors dared to hope AI-diva Nvidia could meet sky-high expectations, while keeping a wary eye on the outlook for U.S. and UK interest rates.
Markets are braced for fireworks when Nvidia reports after the bell, with options priced for a swing of 8.7% in either direction, worth $200 billion in market value. "This suggests that it may take a big upside surprise, on earnings or clearer forward guidance, to get the stock moving any higher."Minutes of the U.S. Federal Reserve's last meeting due later in the day should confirm the next move is still likely down, but policy makers first need more confidence that inflation has resumed its downtrend.
The pound was holding just short of two-month highs at $1.2712, while the euro was trading steady at $1.0857, just off its recent top of $1.0895.
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