Message-ID: <31762014.1075858803035.JavaMail.evans@thyme> Date: Sun, 21 Oct 2001 16:28:37 -0700 (PDT) From: info@forexnews.com To: sara.shackleton@enron.com Subject: Japanese Preview Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: quoted-printable X-From: @ENRON X-To: Shackleton, Sara X-cc: X-bcc: X-Folder: \SSHACKL (Non-Privileged)\Shackleton, Sara\Deleted Items X-Origin: Shackleton-S X-FileName: SSHACKL (Non-Privileged).pst [IMAGE] Forums Discuss these points in the Forums: Forexnews Forum T= echnicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek= Technical Research Ltd. Charts & News featuring Standard & Poor's = Interest Rates US: Japan: Eurozone: UK: Switzerland: 2.5% 0.15% 3.7= 5% 4.5% 1.75-2.75% [IMAGE] =09 [IMAGE] Japanese Forex Trading Prev= iew October 21, 7:00 PM: EUR/$..0.8984 $/JPY..121.25 GBP/$..1.4328 $/CHF..= 1.6423 Japanese Forex Trading Preview by Darko Pavlovic At 7:50:00 PM Jap= an August Tertiary Ind Prel (exp n/f, prev -0.9) Japan Sept all industry i= ndex (exp n/f, prev -1.2) The single currency fell on Friday to a fresh 5= week low vs. the dollar and a new 3-week low vs. the yen after German Sept= ember IFO survey sank to a 8-year low of 85.0, as confidence in biggest Eur= opean country weakened after September 11 and uncertainty abut the Eurozone= growth. Bundesbank President Welteke commented that Germany would need a "= lot of luck" to achieve the government's official growth forecast of 0.75% = this year, but denied Germany would post negative growth and enter a recess= ion. As economic growth in the Europe continues to slowdown everyone is loo= king at the ECB to take a more proactive role in stimulating growth by cut= ting interest rates. Despite the ECB's inclination to ostensibly prioritize= price stability over growth, remarks by ECB president Duisenberg echoing t= hose of the EU leaders that there is room to maneuver policy should inflati= on fall sooner than expected would seem to suggest the ECB is flexible and = may indeed slash rates by the end of the year, as many analysts anticipate.= However, Duisenberg maintained his mantra that inflation will likely fall = below 2% possibly early next year. A Reuters poll conducted yesterday showe= d that 27 out of 50 economists believe the ECB will hold rates steady, 21 e= xpect a rate cut and 2 are undecided. Support is seen at the 200-day moving= average of 89.50, followed by 89.0 and 88.55. Resistance is seen at 90.15,= 90.35 and 90.65. The yen is almost unchanged from Friday's closing vs. th= e dollar after advancing against the euro to a 3-week high of 108.88, due t= o poor German IFO survey. Japanese Finance Minister Shiokawa proposed an ex= tra budget of 3 trillion yen, out of which 1.68 trillion yen will be financ= ed by government bonds. Finally, Koizumi declared that the structural refor= ms must proceed whether GDP is plus or minus. Economic Minister Takenaka sa= id that redenomination of yen could be one of the methods to revive the eco= nomy. Takenaka is hoping to put the issue on the agenda for structural econ= omic reform planned for fiscal 2002. Tokyo think tank predicted that Japan = unemployment could rise to over 6% in the next fiscal year after jobless ra= te hit record of 5% in July and August. USD/JPY support is seen at 120.65,= 120.20 and 120.0. Resistance is eyed at 121.50 and 121.80. Leaders of Asia= Pacific Economic Cooperation finished their 2 day summit on Sunday condemn= ing terrorism and promising to boost the global economy hit by prolonged sl= owdown and September 11 attacks. Looking ahead to next week, the major in= dicators from the US include the Index of Leading Indicators, the Employee = Cost Index, durable goods, existing and new home sales, and the University = of Michigan Confidence Survey. From the Eurozone, key data due for release = are German CPI and PPI, Italian Industrial Orders, Italian CPI, ISAE Indust= rial and Consumer Confidence Survey, French CPI, Italian Foreign trade, Eur= oarea M3 data and foreign trade. Markets await the ECB rate announcement on= Thursday October 25, even though the central bank is unlikely to ease mone= tary policy next week. =09[IMAGE] Audio Mkt. Analysis Euro Crawls Up In = Quiet Trading Articles & Ideas EURO: German IFO Will Remind ECB to B= uild Growth Dollar Comeback Stopped by Risk of Terrorism Articles = & Ideas Forex Glossary Economic Indicators Forex Guides Link Library = [IMAGE] =09 =09=09[IMAGE][IMAGE] [IMAGE][IMAGE]=09 =09=09 This e-mail is never sent unsolicited. If you wish to unsubscribe f= rom this or any other Forexnews.com newsletters, please click here . =09