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  • 2011-04-04 23:48

    SINGAPORE, April 5 (MNI) - The U.S. dollar spent a subdued Asian
    morning slightly firmer but within narrow trading ranges, with the
    Australian dollar holding a modestly weaker tone ahead of a Reserve Bank
    of Australia rate decision later today.

    Markets in mainland China and Hong Kong are closed today for the
    Ching Ming (tomb sweeping) holiday. Given this, and a lackluster U.S.
    session overnight, Asian markets got off to a slow start.

    Initial market attention was on comments by Federal Reserve
    Chairman Ben Bernanke, who said that the Fed would "respond" if

  • 2011-04-04 21:50

    -- Noda: To Compile 1st Extra Budget Without Issuing Deficit Bonds
    -- Noda: Expect BOJ To Support Economy Through Monetary Policy

    TOKYO (MNI) - Japanese Finance Minister Yoshihiko Noda said on
    Tuesday that he will ask his colleagues from the Group of Seven
    industrialized nations to continue cooperating in the currency market
    following a rare instance of concerted G-7 forex intervention last
    month.

    The finance ministers and central bank governors from the G-7 and
    the Group of 20 major and emerging economies are expected to meet in

  • 2011-04-04 21:05

    By Steven K. Beckner

    STONE MOUNTAIN, GA. (MNI) - Federal Reserve Chairman Ben Bernanke
    said Monday evening that the Fed will "respond" if inflation pressures
    persist, but made clear that is not his expectation.

    If anything, Bernanke said that underlying inflation may ultimately
    prove to be too low relative to historical norms.

    And he pointed to continued problems in the housing market, which
    he said are retarding economic growth.

    A few Federal Reserve officials have suggested lately that the

  • 2011-04-04 20:45

    TOKYO (MNI) - Japanese firms said in March that issuing conditions
    for their commercial paper (CP) remained easy, unchanged from three
    months earlier, according to supplemental data from the Bank of Japan's
    quarterly March Tankan survey released on Tuesday.

    But the results don't reflect the full impact of the March 11
    disaster on commercial paper issuing conditions.

    The BOJ said on Friday it conducted the Tankan survey between Feb.
    24 and March 31, with about 72% of surveyed firms responding by March
    11, the day of the earthquake.

  • 2011-04-04 20:01

    --But Finance Ministry Expects To Unveil Improved Deficit Trajectory

    PARIS (MNI) - France's Finance Ministry later this month will
    revise its growth forecast for 2012 down to 2.0% from the current
    projection of 2.5%, the French daily Le Figaro reported Monday.

    The revised forecast for next year will match the projection for
    2011, the paper said. It quoted an unnamed official at the ministry
    saying, "we must not be too far from the consensus of forecasters."

    The paper noted that a little bit of caution on the growth outlook

  • 2011-04-04 19:15

    By Steven K. Beckner

    STONE MOUNTAIN, Georgia (MNI) - Federal Reserve Chairman Ben
    Bernanke said Monday evening that although the various clearinghouses
    that clear and settle transactions survived past crises, there is no
    assurance that they will do so in the future unless regulators work to
    "remedy" their "weaknesses."

    Bernanke, in remarks prepared for delivery to the Atlanta Federal
    Reserve Bank's annual financial markets conference, said the Fed is
    working closely with both domestic and foreign regulatory authorities to

  • 2011-04-04 18:33

    All figures year-over-year percent changes unless otherwise
    specified.

    Date Time For Event Previous
    Local/GMT
    ------------------------------------------------------------------------
    10 Apr -- / -- Mar Trade Balance ($ bln mth, ytd) -7.31/-0.89
    10 Apr -- / -- Mar Exports (% y/y, % ytd y/y) +2.4/+21.3
    10 Apr -- / -- Mar Imports (% y/y, % ytd y/y) +19.4/+36.0
    10-15 Apr -- / -- Q1 Forex Reserves*($trln,q/q chg $bln) 2.85/+199.0

  • 2011-04-04 16:30

    --Accommodative Policy Approp. So Long As Inflation In The 1.5% Range

    By Ian McKendry

    WASHINGTON (MNI) - Chicago Federal Reserve Bank President Charles
    Evans said during a televised interview Monday that the Fed's decision
    to purchase $600 billion in large scale assets is the "right amount" and
    that accommodative policy is appropriate as long as core inflation
    remains in the 1.5% range.

    "We have seen pretty good growth and the employment numbers are
    improving, it is quite likely 600 (billion dollars) could be the right

  • 2011-04-04 16:21

    --House Speaker Says Key Leaders Are Still Talking On FY'11 Budget
    --Senate Dems Cuts Are 'Full of Smoke and Mirrors'
    --'Sadly Evident' Democrats Not For 'Meaningful' Cuts

    By John Shaw

    WASHINGTON (MNI) - Striking a more combative tone than he did last
    week, House Speaker John Boehner said Monday that a proposal to cut
    spending in the 2011 fiscal year by $33 billion is "not enough."

    In a statement, Boehner continued to insist there is no agreement
    on FY'11 spending. He said the repeated suggestions of Senate Democratic

  • 2011-04-04 15:28

    By Dennis Pettit

    NEW YORK, April 4 (MNI) - The dollar was trading near unchanged
    against the euro and the yen in afternoon dealings Monday, as the week
    got off to a slow start and traders looked ahead to event risk set for
    Thursday.

    Euro-dollar was changing hands at $1.4220 in afternoon trading,
    slightly above its early level of the U.S. session with the euro
    contained to a narrow $1.4197 to 1.4251 range during U.S. hours.

    Dollar-yen meantime was trading at Y84.00, again right at its early
    level of the U.S. session after trading in a narrow Y83.83 to 84.05
    range.