The News Review:

- Forex – Dollar extends fall in afternoon trade on doubts about G7…
- Forex – Czech crown settles close to old record after surprise…
- 5 Most Important Events for the Forex Market This Week
- FOREX: Ringgit Ends Easier Against US Dollar
- Derivative losses: Cos not in a hurry to make legal moves against…
- Thomson Financial Europe AM at a glance share guide: Shares weak, oil…
- Japanese government bonds close higher as stocks hit by US worries

Forex – Dollar extends fall in afternoon trade on doubts about G7…
Forbes – Apr 14, 2008
dollar extended its fall against the yen in afternoon Asian trade on Monday as investors doubted the Group of Seven could intervene to arrest volatility in the currency market. While officials from the G7, who gathered over the weekend to discuss the credit crisis, have raised some concerns about the ’sharp fluctuations in major currencies’, they did not outline any concrete plan to address the situation. ‘The dollar will remain weak.

Forex – Czech crown settles close to old record after surprise…
Forbes – Apr 14, 2008
85 to the euro, close to its old record, after it soared to a new all time high to the euro in illiquid overnight trade. The crown briefly jumped 7. 00 to the euro late on Sunday, Reuters reported, catching the market by surprise.

5 Most Important Events for the Forex Market This Week
Daily FX – Apr 14, 2008
08 Written by Terri Belkas, Currency Analyst This week, a slew of inflation reports will be released from the US, UK, Euro-zone, New Zealand, and Canada and the news is likely to spark volatility for each country’s respective currency upon release. However, carry traders should keep their focus trained on the US equity markets, as first quarter earnings reports scheduled to hit the wires throughout the week could shake things up. 5in; text-indent: -0.

FOREX: Ringgit Ends Easier Against US Dollar
Bernama – Apr 14, 2008
At 5pm, the local unit depreciated against the greenback at 3. The Kuala Lumpur Composite Index (KLCI) was down 13.

Derivative losses: Cos not in a hurry to make legal moves against…
Economic Times – Apr 14, 2008
So far, nearly a dozen
companies have moved court against banks alleging that the forex contracts they
signed are illegal and therefore cannot be enforced. The list includes firms
like Rajshree Sugars & Chemicals, Sundaram Multi Pap, Sabare International,
Garg Acrylic, NC Sugars, Precot Meridian and Sundaram Brakes. The list of banks
facing litigation on forex derivatives are ICICI Bank, Axis Bank, Kotak Mahindra
Bank, Yes Bank and HDFC
Bank. Legal sources said a few
companies have backtracked from their decision to sue their banks even after
consulting legal counsels. ?The companies, especially where settlement
date has not yet come, are delaying litigation. They are waiting for the market
to improve,? said a source who has been advising some of the companies on
such legal disputes. However,
the on-going litigations between the companies and banks indicate that these
could turn out to be long drawn legal battles a situation not many companies
are eager to enter into.

Thomson Financial Europe AM at a glance share guide: Shares weak, oil…
Forbes – Apr 14, 2008
dollar was weaker against major currencies in the morning session in Sydney after early gains following the Group of Seven nations and central bankers’ warning that turmoil in the global financial markets remains challenging and is likely to be more protracted than previously expected. OIL: Oil prices eased slightly from recent highs in Asian trade on Monday after international finance ministers warned that near-term global economic prospects have weakened. METALS: Copper extended gains on Friday as the dollar reamined weak, boosting the appeal of dollar priced commodities, while tight inventories lent the metal support. Gold on Friday morning eased after touching its strongest level in 10 days the previous day as oil prices came off highs and asinvestors took to the sidelines ahead of the Group of Seven meeting this weekend, which could have a major impact on the dollar. EVENTS: Bank of Japan releases minutes from monetary policy meeting held on March 6,7 Australia’s Feb housing finance data Singapore Press Holdings H1 to Feb results Malaysia’s Tenaga Nasional Q2 earnings Singapore Exchange Q3 to March results China Eastern Airlines FY results China’s Angang Steel 2007, Q1 2008 results Hong Kong-listed China Power FY resultsEUROPE SUMMARY: Shares, oil lower… dollar has struggled against the yen as risk appetite fell following a slide in US stocks, prompted by weak earnings at the world’s biggest industrial conglomerate General Electric Co. BONDS: European government bonds rallied strongly as consumer confidence in the United States dropped more than expected in April, suggesting economic growth is still weakening. In the United Kingdom, gilts were also higher, tracking the wider trend. OIL: Oil turned lower as the International Energy Agency’s reduction of its 2008 oil demand forecast encouraged some end-of-weekprofit-taking, though weakness in the dollar limited losses. METALS: Copper extended gains as the dollar reamined weak, boosting the appeal of dollar priced commodities, while tight inventories lent the metal support.

Japanese government bonds close higher as stocks hit by US worries
Forbes – Apr 14, 2008
corporate earnings are increasing as companies may lower their profit forecasts and Japanese corporations may do likewise,’ said Maki Shimizu, fixed-income strategist at UBS Securities. Investors found little comfort from the statement issued by the G7 after the meeting at the weekend, in which finance leaders said the prospects for the global economy have deteriorated since their meeting in February and recent fluctuations in the forex market are causing concern about overall economic stability. ‘The G7 meeting failed to ease investors’ worries about the credit crisis,’ said Shimizu. On the domestic front, the Bank of Japan warned of greater risks to the economy in the minutes of its March meeting. The BoJ’s nine policy board members have reiterated the need to pay close attention to increased downside risks in Japan as a result of the intensifying slowdown in the U.