Appetite for riskier FX has gently improved...>

FOREX: Appetite for riskier FX has gently improved in the early part of this

generally sedate Asia-Pac session. AUD outperforms its G10 peers at the margin,

with NZD, CAD & GBP also edging higher. JPY and USD are the worst performers in

the basket, with U.S. equity index futures operating in the green.

- USD/SGD fluctuated around the release of firmer than expected Singapore's

final Q1 GDP, before slipping on the back of a wider risk-on tide. The gov't

lowered its GDP target for this year, while the MAS forecast a further

deterioration in labour mkt conditions.

- USD/KRW opened on a softer footing and has continued to slide, threatening to

sink through yesterday's low. South Korea released its consumer confidence

survey, with headline index climbing to 77.6 from an 11-year low of 70.8.

- U.S. Cons. Conf. (Conf. Board) & new home sales, German GfK Cons. Conf. and

comments from Fed's Kashkari, BoC's Poloz & Wilkins, BoE's Haldane, ECB's Lane,

Norges Bank's Wolden Bache & Riksbank's Inves take focus today.