FX Highlights

* Japans February unemployment rises to a three-year high of 4.4%, February household spending rises 0.3%, February housing starts fall 24.9%, March manufacturing PMI rises to 33.8 from 31.6 in February, Japan plans to announce additional economic stimulus plan, JPY lower

* Press reports estimate that the new Japanese stimulus plan will aim to create $612 Billion worth of demand and 2 Million jobs

* OECD forecasts faster contraction of the global economy in 2009 and soaring unemployment, world economies to contract by 4.3% in 2009, OECD says extra steps are needed to halt the crisis

* World Bank says strong dollar is critical to lifting world out of economic and financial crisis

* German March jobless rate rises more than expected to 8.1%, EU inflation plunged to an all-time low in March at 0.6% y/y, OECD says the EU needs to cut interest rates and adopt quantitative ease, EUR higher supported by equity market rally and gains in cross trade to JPY

* UK March GFK consumer confidence index rises to -30, from -35 at February, OECD forecasts UK economy to shrink by 3.7% in 2009, GBP higher supported by equity market rise and stronger GBP/JPY

* French Finance Minister Lagarde says currencies are not on the G-20 agenda, Sarkozy threatens to walk out of the G- 20 Summit because of concern about pressure for additional fiscal stimulus

* Australia's February private sector credit was unchanged, a 0.4% rise was expected, AUD higher

* US equity market set to open higher, European equities 1% higher, Nikkei closed 1.5% lower

Upcoming Events

* US - Tuesday, January Case Schiller House Price Index will be released expected at 20 compared to 18.5 last month, along with March Chicago PMI expected at 35 compared to 34.2 last month and March consumer confidence expected at 29 compared to 25 last month

* CAN -Tuesday, GDP by industry will be released expected at -1.3%

* G-20 and ECB meeting Thursday and US nfp is due for release Friday