GLOBAL MARKETS-Shares dither, US dollar climbs on rosy economic data

By Rocky Swift

TOKYO, May 28 (Reuters) - Shares eased on Wednesday as investors turned cautious ahead of Nvidia's NVDA.O earnings on Wall Street later in the day, while the dollar held gains on promising economic signs in the United States.

Market optimism over what appeared to be easing trade frictions between the U.S. and Europe faded. Global bond markets settled down after a scary surge in long-term yields, though a lacklustre auction for Japan's longest-dated bonds underscored lingering fiscal deficit concerns.

U.S. consumer confidence surprised on the upside ahead of closely watched jobs figures on Thursday.

Artificial intelligence chipmaker Nvidia jumped more than 4% on Tuesday and will be the last of the "Magnificent 7" tech giants to report earnings after markets close in the U.S.

"There is renewed confidence that Nvidia can beat the consensus estimates," said Chris Weston, head of research at Pepperstone.

If Nvidia comes through with better-than-expected sales and profit margins "the rally is on", he added.

The chipmaker is expected to report that first-quarter revenue surged 66.2% to $43.28 billion, according to data compiled by LSEG.

Ahead of the results, Nasdaq futures NQc1 dipped 0.03% in Asia, while S&P 500 futures ESc1 eased 0.06%. EUROSTOXX 50 futures STXEc1 fell 0.3%.

In signs of a thaw between the U.S. and Europe, European Union officials have asked companies for details of their U.S. investment plans, according to two sources familiar with the matter.

But MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS reversed gains from early in the session to fall 0.15%, as uncertainty over Trump's chaotic trade policies continues to linger.

Japan's Nikkei .N225 advanced 0.22%, climbing a fourth straight session.

China's CSI300 blue-chip index .CSI300 ticked up 0.08%, while Hong Kong's Hang Seng Index .HSI fell 0.4%.

The dollar index =USD, which tracks the greenback against a basket of currencies, rose 0.25%, adding to Tuesday's 0.6% rally. The euro was down 0.2% to $1.1304 EUR=.

Australian shares .AXJO lost 0.16% and the nation's currency AUD=D3 slid 0.26% after April consumer price data came in slightly above expectations. The kiwi dollar NZD=D3 was last little changed after the Reserve Bank of New Zealand cut rates by 25 basis points as expected.

Japanese bonds slid following tepid demand for an auction for the 40-year notes, with the 40-year JGB yield JP40YTN=JBTC rising 9 basis points to 3.375%. Bond yields move inversely to prices. JP/

Oil prices ticked up as the U.S. barred Chevron CVX.N from exporting crude from Venezuela under a new authorisation on its assets there, raising the prospect of tighter supply.

Brent crude futures LCOc1 rose 0.5% to $64.41 a barrel, while U.S. crude CLc1 advanced 0.6% to $61.27 per barrel. Spot gold XAU= rose 0.1% after dropping more than 1% on Tuesday.