Week of April 24, 2011 thru April 30, 2011

FXWRAP:Dlr Mixed In Holiday-Thinned Trading,Still Jilted Bride

By Dennis Pettit

NEW YORK, April 29 (MNI) - The dollar ended the Friday session on a
mixed note, scoring slight gains vs. the euro while slipping very
slightly vs. the yen as the month wound down, with flows damped by
holidays and a wedding overseas.

Euro-dollar was changing hands at $1.4830 in quiet afternoon
dealings Friday, with the euro in the lower end of the day's $1.4805/78
U.S. hours range. The euro began the session around $1.4858.

Dollar-yen meantime traded at Y81.10 in afternoon dealings Friday,

US Tsy Proposes FX Swaps/Fwds Exemption from Central Clearing

--New Comment Period Set Before Final Determination

By Denny Gulino

WASHINGTON (MNI) - The Treasury Department Friday announced that,
as expected, it is proposing to exempt the $30 trillion foreign exchange
swaps and forwards market from central clearing and exchange trading
requirements that will apply to the other 95% of over-the-counter
derivatives transactions.

Rather than formally telling the U.S. Commodity Futures Trading
Commission of the exemption immediately, as allowed under the Dodd-Frank
law, the Department is calling for another 30 days of comments and,

Trepp: US Bank Loan Delinquency Improvement Stalled In Q1'11

By Ian McKendry

WASHINGTON (MNI) - The decline in U.S bank loan delinquencies
slowed in the first quarter, according to estimations by Trepp, a data
analytics firm, in a recent report.

Using earnings and call report filings, Trepp estimated that
delinquencies for residential and commercial mortgages fell slightly in
the first quarter as did commercial and industrial, non-real estate loan
delinquencies, while construction loan delinquencies increased.

Trepp's findings come ahead of the U.S. Federal Deposit Insurance

US Data Preview: ISM Mfg Projected To Fall Off Six-year Highs

By Chris Cermak

WASHINGTON (MNI) The Institute for Supply Management's survey of
manufacturing activity is expected to fall slightly off its highest
levels in six years when the latest figures are released Monday, but
economists expect the manufacturing sector to continue its brisk
expansion over the next few months.

The April ISM purchasing managers index is forecast to drop to 60.0
from 61.2 in March, according to a survey of economists by Market News
International. The index held above 60.0 for all of the first quarter,
reaching a six-year high of 61.4 in February.

Bernanke: Econ Improving But 'Far From Where We Would Like'

By Steven K. Beckner

WASHINGTON (MNI) - Federal Reserve Chairman Ben Bernanke Friday
reemphasized his concern about high unemployment and home foreclosures,
while making no mention of inflation, in a speech on "community
development."

Two days after holding a press conference following a meeting of
the Fed's Federal Open Market Committee meeting, Bernanke did not talk
about monetary policy per se, but the thrust of his remarks reinforced
his Wednesday message that the Fed needs to keep monetary policy "highly
accommodative" for the indefinite future.

MNI Forecast Competition Sees 60.6 for US Mar Mfg ISM

NEW YORK (MNI) - Forecasters see a 60.6 headline index number for
Monday's manufacturing ISM report in the ongoing three-month MNI
Forecast Competition.

Forecast contest participants delivered their ISM forecasts by the
noon ET deadline.

Wednesday, the 2.5% increase for March U.S. Durable Goods Orders
differed from the average of entries in the contest, +1.1%, by 1.4
percentage point.

Monday, the 300,000 level for March U.S. New Home Sales reported
differed from the average of entries in the ongoing three-month MNI
forecast Competition, 260,000, by 40,000.

Bank of Mexico Minutes: Mon Pol 'Adequate,'Kept Favorable Infl

--Econ Outlook Improved, But Inflation Risks Persist
--Board Cites FX, Commodity Prices, Lower Econ Slack, Infl Expectations

By Heather Scott

WASHINGTON (MNI) - Mexico's monetary policy board agreed the policy
stance that has kept the overnight rate at 4.5% since August 2009 is
"adequate" and has contributed to a desirable inflation outlook, but
risks persist, including rising commodity prices, the Bank of Mexico
said Friday in the minutes of the April 15 policy meeting.

The board members agreed on the need to remain vigilant of

Update: ECB's Bonello To Resign As Malta CBank Gov End-June

--Adds Background Of Successor Josef Bonnici

VALETTA (MNI) - European Central Bank Governing Council member
Michael C. Bonello, who is governor of Malta's central bank, will resign
from his post at the end of June, the Maltese government announced
Friday.

Malta's Prime Minister Lawrence Gonzi will nominate Josef Bonnici,
a Maltese central bank director and professor of economics, to succeed
Bonello as of July 1, the government said in a statement.

According to the statement, Bonello had written to Gonzi to tender

US NACM Text: April Credit Managers' Index +0.1 Pt to 55.8

--Gasoline Sales Subtract from Other Sectors

WASHINGTON (MNI) - The following are excerpts from the text of the
National Association of Credit Manager's summary of its April report on
credit extensions, published Friday:

Flat CMI Reflects Inflationary Burdens on Manufacturing Sector

Columbia, Maryland: In March the manufacturing sector held its own
and provided the sole piece of good news for the Credit Managers' Index
(CMI) as a whole, but in April the sector stumbled and exchanged
positions with the service sector. In March the news for the service

ECB Bonello To Resign As Malta Central Bank Governor End-June

VALETTA (MNI) - European Central Bank Governing Council member
Michael C. Bonello, who is governor of Malta's central bank, will resign
from his post at the end of June, the Maltese government announced
Friday.

The prime minister of Malta will nominate Josef Bonnici, a Maltese
central bank director and professor of economics, to succeed Bonello as
of July 1, the government statement said.

[TOPICS: M$$EC$,M$X$$$,MGX$$$,MT$$$]