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Focus will be on Spain when they test the bond market with news issues today.

Thursday, April 19, 2012 3:52 AM GMT

Good Morning ,

- Currency traded in narrow ranges overnight, USDJPY was a bit supported by
dovish comments by BOJ officials (next BOJ meeting April 27). EURUSD was
stuck in 1.3110-1.3132 range in Asia. Focus will be on Spain when they test
the bond market with news issues today.

- Stocks: Nikkei -0.89 %, Hang Seng +0.39 %, Shanghai Composite -0.04 %,
Dow Jones -0.63 %, S+P500 -0.41 %

- International Monetary Fund Managing Director Christine Lagarde said she has
received pledges worth about $320 billion so far to increase the fund's
lending resources.

- The Netherlands is in danger of losing its AAA credit rating if it fails to
deliver austerity cuts or allows political conflict to interfere with the
economy the Daily Telegraph reported, citing an interview with Fitch
Ratings executive Chris Pryce.

- Japan reported the fastest export growth in a year and a smaller-than-
expected trade deficit in March.

- Japan Data Recap                            Period    Survey    Actual    Prior
* Merchnds Trade Balance JPY              Mar     -223.3b  -82.6b    29.4b rev
* Exports yoy                                     Mar          0.2         5.9       -2.7
* Imports yoy                                     Mar         7.0        10.5        9.2

- Bank of Japan Governor Masaaki Shirakawa said he's "committed" to continuing
monetary easing and the Japanese economy has "stagnated," even as a report
today showed the fastest export growth in a year.

- Bank of Japan Deputy Governor Hirohide Yamaguchi said Thursday that raising
the country's growth potential and maintaining support with monetary policy
are the keys to getting Japan out of deflation.

- Japanese manufacturing confidence worsened slightly in April after a sharp
rebound the previous month, a Reuters poll showed on Thursday, reflecting
rekindled worries about Europe's debt crisis and uncertainty over global
growth prospects.

* Manufacturers sentiment index +1 in April, seen +6 in July
* Non-manufacturers index +10 in April, seen +16 in June

- China will increase liquidity via open market operations and cutting banks'
required reserves to steer the economy towards a soft landing, the official
Xinhua news agency quoted an unnamed central bank official as saying late on
Wednesday.

- Australia Data Recap                Period   Survey   Actual    Prior
* NAB Business Confidence           Q1           -        -1          1

- Australian Prime Minister Julia Gillard pressed the nation's central bank to
reduce the highest interest rates among major developed nations, saying an
easing would support businesses outside the booming resource industry.

- New Zealand Data Recap           Period         Survey   Actual    Prior
* ANZ NZ Job Ads mom                    Mar         -          -1.0 %   4.6 % rev
* Consumer Prices qoq                      Q1        0.5 %     0.5 %   -0.3 %
* Consumer Prices yoy                       Q1       1.6 %     1.6 5     1.8 %

- Brazil's central bank slashed its benchmark interest rate to 9% Wednesday,
and left the door open for future rate cuts. It was the sixth consecutive cut
by the bank's monetary-policy committee, or Copom, lowering the rate from
9.75%.

- Brazil Real tumbled and erased all gains for the year, after the central bank
bought USD for the 3rd straight day.

- G20 Economic and Trade Ministers meet in Puerto Vallarta, Mexico
- 1430 US Initial Claims
- 1600 US Philadelphia Fed Index Apr
- 1600 US Existing Home Sales Mar
- 1600 US Leading Indicators Mar
- 1000 Italy Industrial Orders Feb
- 1000 Italy Industrial Sales Feb
- 1600 Eurozone Consumer Confidence Apr
- 1730 ECB Praet
- 2030 ECB Asmussen
- 1030 Spain to sell 2014/22 Bonds
- 1100 France to sell 2014-2022 Notes and Bonds
- 1900 BOE Posen

 (CET)

Have a nice day !

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