Global stocks edged up on Wednesday in cautious trading ahead of U.S. consumer price data that could shift the country's monetary policy outlook, while investors waited to see if the earnings of big U.

The dollar fell to a one-week low as investors turned cautious ahead of U.S. inflation data later. U.S. inflation is expected to accelerate to 2.9% year over year in December but core inflation is seen unchanged at 3.

World stocks were mixed on Wednesday following Wall Street’s mostly positive performance before key U.S. inflation data that could influence the pace of market-boosting rate cuts by the Federal Reserve.