GLOBAL MARKETS-Asia shares, dollar tense for inflation test

GLOBAL MARKETS-Asia shares, dollar tense for inflation test
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GLOBAL MARKETS-Asia shares, dollar tense for inflation test
* Asia shares ex-Japan up 0.2 pct, Nikkei off four-month low * US Jan CPI forecast at 1.9 pct, core at 1.7 pct * Dollar flinches as U.S. twin deficits set to explode * Oil prices ease on signs of over supply By Wayne Cole SYDNEY, Feb 14 (Reuters) – Asian shares were set for a tense session on Wednesday as investors await readings on U.S. inflation that could fan fears of faster rate hikes and unleash another burst of global volatility. The early inclination was to inch higher as E-Minis for the S&P 500 added 0.1 percent and MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.2 percent. Japan’s Nikkei bounced 0.4 percent to 21,327, after closing at a four-month low on Tuesday. Dealers said there was a lot of focus on the 200-day moving average at 21,031 as a break there would ring bearish alarm bells. Data showed Japan’s economy grew a fraction slower than forecast last quarter but still managed the longest run of expansion since 1989. On Wall Street, the Dow rose 0.16 per…

GLOBAL MARKETS-Asia shares, dollar tense for inflation test