Good morning traders!

In the US last night, the Dow closed at a new record high, up 106 points at 15,409.
The Nasdaq gained 30 points at 3,489 and the S&P500 rose 10 points at 1,660.

In Asia today, the Nikkei was recently up 141 points at 14,453 and the Hang Seng off
149 points at 22,775.

WTI crude oil traded at $94.86 a barrel and gold settled at $1,387 an ounce.

Good hunting!

G.

Japan CPI decline expected to slow, BOJ price goal still in doubt

TOKYO | Wed May 29, 2013 3:48am BST
(Reuters) - Japan's deflation likely abated further in April and factory output picked up, but economists say the Bank of Japan is unlikely to achieve its 2 percent inflation target in two years as demand won't catch up with oversupply quickly enough.

In a slew of data due out on Friday, April household spending will have cooled slightly after rapid gains in the first quarter, a Reuters poll shows, but spending is forecast to regain momentum as consumer sentiment improves.

China Growth Outlook Cut by IMF as ‘Decisive’ Reforms Urged

By Bloomberg News - May 29, 2013 5:09 AM GMT
The International Monetary Fund lowered its forecasts for China’s growth and said making “decisive” policy changes would put the economy on a more sustainable path.
Expansion will be about 7.75 percent this year and next, David Lipton, first deputy managing director of the IMF, said today at a press briefing in Beijing after concluding an annual review of China. In April, the IMF forecast growth of 8 percent this year and 8.2 percent expansion in 2014.

Nikkei edges up in choppy trade, investors still wary after recent tumult

Wed May 29, 2013 8:04am BST

TOKYO, May 29 (Reuters) - Japan's Nikkei share average
inched up in choppy trade on Wednesday, with investors still
wary after last week's tumultuous trade raised concerns about
the outlook as the market retreats from 5-1/2-year highs.
The Nikkei finished up 0.1 percent at 14,326.46,
after trading as high as 14,512.28 and as low as 14,243.49.
The index saw its first two-straight days of gains since
last Thursday's 7.3 percent slide, its biggest one-day
percentage drop since the March 2011 earthquake and tsunami.

FTSE100 firmly lower in early deals as profit-takers emerge

German Unemployment Change 21K 4K 4K

EUR M3 Money Supply y/y 3.2% 2.9% 2.6%

EUR Private Loans y/y -0.9% -0.4% -0.8%

Mr Bean speaks @10:30.

GBP CBI Realized Sales -11 4 -1

FTSE 100 sharply lower at midday after OECD predictions

ECB needs to come to euro zone's rescue again - OECD

(Reuters) - The European Central Bank, which shored up the euro zone last year, needs to act again to lift the bloc out of recession, the OECD said on Wednesday, calling for bold steps beyond just interest rate cuts.

The 17-nation euro zone is suffering its longest economic downturn since its creation in 1999, weakened by public debt and banking crises that have nearly shattered the currency area.

FTSE 100 tumbles as OECD outlook spooks investors