The Australian stock market opened lower after international markets retreated after downward revisions of eurozone growth and unemployment.
At the 1015 AEDT official market open, the benchmark S&P/ASX200 index fell 0.77% to 5,409.5 points, while the broader All Ordinaries index decreased 0.39% to 5,404.8 points.
The European Union cut its 2014 forecast for the 17-member single currency to 1.1% growth next year, down from the 1.2 per cent it forecast in May, and a 12.2% unemployment rate, up from the previous 12.1%.
In economic news on Wednesday, the Australian Bureau of Statistics releases September international trade in goods and services figures.
CEDA launches a research report entitled Australia Adjusting: Optimising national prosperity.
In Australia, the market on Tuesday enjoyed a strong finish on Melbourne Cup day, with the big miners leading the way.
The benchmark S&P/ASX200 index was up 41.5 points, or 0.77%, at 5,432.
The broader All Ordinaries index was up 41.5 points, or 0.77%, at 5,425.7.