SHANGHAI - Most Asian shares rose on Wednesday , extending a rally driven by upbeat Chinese and US economic data, but the dollar, US yields and gold held steady as investors awaited the Federal Reserve's view on the economy at its policy meeting.
"If we do get a surprise on the accommodative side - we've gotten this a few times from smooth Jay - then we could get the inverse of all that, including the next big structural break higher in gold." However, Chinese blue-chips pulled back 0.1 per cent as investors booked profits after three days of gains.
"There is some expectation that with the US Congress unwilling/unable to agree to a new fiscal package, monetary policy may need to step in to fill the void," NAB analyst Tapas Strickland said in a note."Accordingly markets will be focused on any changes to forward guidance and to any balance sheet adjustments."E-mini futures for the S&P 500 were up 0.1 per cent on Wednesday after US stocks ended off their session highs, with the Dow industrials closing little changed.
The euro was down less than 0.1 per cent to buy US$1.1838, while the dollar index, which tracks the greenback against a basket of six major rivals, was treading water at 93.092.
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