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EMG- and Commodity block recovered marginally overnight

Wednesday, April 11, 2012 3:40 AM GMT

Good Morning ,

- EMG- and Commodity block recovered marginally overnight. USDJPY is a little
bit firmer before the European open after sources reported that the BOJ will
consider more easing at their end of  April meeting.

- Stocks: Nikkei -0.76 %, Hang Seng -1.12 %, Shanghai Composite -0.10 %,
Dow Jones -1.65 %, S+P500 -1.71 %

- ECB Nowotny said Spain's additional budget cuts will help to calm investors.
"The Spanish government is taking the necessary steps which will contribute
to help calm the markets," Nowotny told reporters.

- The Bank of Japan will consider easing monetary policy at its next rate
review on April 27, most likely through an increase in its asset-buying
programmed, sources familiar with the central bank's thinking said. The most
likely option would be to top up the BOJ's 65 trillion yen asset buying and
loan programmed by 5 trillion or 10 trillion yen, with the increase used for
purchases of government bonds, one of the sources said. The central bank will
issue a twice-yearly outlook report on April 27 that will include revised
long-term economic and price forecasts for up to the year ending in March
2014.

- The Bank of Japan slightly upgraded its assessment of the domestic economy
for the second straight month Wednesday, saying improving conditions are
being led by an upswing in public investment on the back of post-quake
reconstruction.

- Australia Data Recap                Period       Survey   Actual      Prior
* Westpec Consumer Conf.            Apr           -           94.5      96.1
* Home Loans mom %                  Feb         -4.0        -2.5      -1.1
* Investment Lending %               Feb           -           4.4      -6.8

- New Zealand Data Recap             Period   Survey    Actual      Prior
* NZIER Business Opinion S            Q1        -            13.0       0.0

- Fed Fisher said the central bank's $2.87 trillion in assets has provoked
anxiety among businesses that inflation will accelerate. "I'm just reporting
what I hear on the street, which is a real concern that with our expanded
balance sheet, we are just a little bit in an ember of what could become an
inflationary fire," Fisher said.

- Fed Kocherlakota said the central bank may need to begin raising interest
rates as soon as this year as inflation may exceed its 2 percent target next
year.

- US 2012 Elections: Rick Santorum suspends Presidential nomination campaign

- The U.S. needs to make its mortgage market more attractive for banks and
provide additional adjustable rates for homeowners to improve the health of
the housing industry, RBA Ellis said.

- The International Monetary Fund is set to lower its forecasts for China's
medium-term current-account surplus, according to two officials who have seen
the draft report. The IMF in September estimated surpluses of more than 7
percent of gross domestic product for 2015 and 2016. The new forecasts for
the broadest measure of trade will be published April 17 in the IMF's World
Economic Outlook, according to the officials, who spoke on condition they
wouldn't be named because the figures haven't been made public.

- China's economic growth is set to moderate slightly over the next two years
but will exceed 8 percent, on the back of strong investment, rising private
consumption and a more stable global economy, the Asian Development Bank
(ABD) said Wednesday. In its annual economic report released at a press
conference in Beijing, Paul J. Heytens, ADB Country Director for China, said
China's GDP growth in 2012 is forecast at 8.5 percent (from previously 9.1
percent), with the priority of macro policy expected to shift from fighting
inflation to stabilizing growth.

- 1430 US Import Price Index Mar
- 2000 US Fed Beige Book
- 1330 Fed Lockhart
- 1420 Fed Lockhart
- 1530 Fed George
- 1630 Fed Rosengren
- 2300 Fed Bullard
- 0800 Germany Wholesale Price Index
- 0830 ECB Coeure
- 1100 Bank of Portugal Costa
- 1000 Norway Industrial Production Feb
- 1000 Norway Industrial Production Feb
- 1415 Canada Housing Starts Mar

   (CET)

Have a nice day !

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