Message-ID: <9564265.1075861033732.JavaMail.evans@thyme> Date: Thu, 10 Jan 2002 16:31:52 -0800 (PST) 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: \Sara_Shackleton_Mar2002\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: 1.75% 0.15% 3.= 25% 4.0% 1.25-2.25% [IMAGE] =09 [IMAGE] Japanese Forex Trading= Preview January 10, 7:00 PM: EUR/$..0.8920 $/JPY..132.12 GBP/$..1.4391 $/C= HF..1.6607 Japanese Forex Trading Preview by Darko Pavlovic At 6:50:00 P= M Japan Dec Bank Lending (exp n/f, prev n/a) Japan Dec WPI (exp n/f, prev n= /a) Japan Dec Money Supply (exp n/f, prev n/a) The yen rose vs. the dollar= for the first time in four days after Japanese Finance Minister Shiokawa w= arned that the yen's fall is a little too rapid and US National Associati= on of Manufactures complained the weakening Japanese currency hurt their ex= ports. Furthermore, the manufacturers' group declared its desire to meet wi= th the US Treasury next week to discuss the dollar's strength, since they b= elieve it is hindering an economic recovery. The yen's depreciation has rai= sed objections from other Asian nations concerned it will hurt growth by cr= imping their exports. December domestic wholesale price index remained unch= anged from last month. The index is down 1.4% from a y/y for the 15th conse= cutive month of year on year decline. December M2+CD rose 3.4% from a year= earlier.Prime Minister Koizumi also added to the brouhaha about the yen's = exchange rate by saying that Japan was not deliberately weakening the yen, = but instead, markets were determining what was an appropriate level. In res= ponse, Malaysian PM Mahathir said he was watching with interest the impact = of the yen's fall on the Chinese yuan and ASEAN currencies. Koizumi is curr= ently visiting Southeast Asia and is likely to encounter scrutiny from regi= onal trading partners who are undoubtedly wondering how low the yen will dr= op and thus hurt their export competitiveness, and whether it would spark a= round of devaluations. Ex-Japanese Minister of Finance Sakakibara, known a= s Mr. Yen, also said in the previous Asian session that he expect the yen m= ight fall to 150-160 per dollar towards year-end. However, Sakakibara warne= d of possible intervention if the dollar rises above the psychological leve= l of 140 yen. In reference to Bank of Japan policy, Sakakibara said the ban= k should keep easy monetary policy including more JGB purchases, but warned= that excessive government spending would be ineffective and could lead to = a collapse in the JGB market. Support is viewed at 132.0, 131.50 and 131.0.= Resistance is eyed at 132.70, 133.0 and 133.40. The euro is trading arou= nd 89.10 after German industrial production came weaker than expected but d= id not move the single currency considerable. Industrial production fell be= low forecasts to -1.6% in November from the previous month's -1.2%, or to -= 4.8% y/y in November from the previous -3.2%. Economists fear that weakness= in Germany could weigh on Eurozone GDP, which was revised to 1.4% in Q3 fr= om the previous 1.3%. However, growth in Q4 could tumble to 0%, thereby put= ting pressure on the European Central Bank to cut interest rates in Februar= y to spur an economic recovery in the European region. Support is seen at 8= 9.0, backed by 88.80 and 88.60. Upside capped at 89.55, 89.80 and 90.0. Th= is week's remaining US indicator is PPI, which is forecasted to rise to -0.= 2% in December from the previous -0.6% but remain below zero for the third = straight month as energy and food prices continue to decline. Core PPI is p= rojected to edge down to 0.1% in December from 0.2% in November, in a refle= ction of how overall inflationary pressures remain mild. Markets will p= ay careful attention to Fed Chairman Greenspan's speech tomorrow for any me= ntion about the US outlook, as it will be his first speech on the economy s= ince last October. Highlights from Japan consist of wholesale prices, money= supply and the ESRI Tokyo consumer sentiment survey. =09[IMAGE] Audio = Mkt. Analysis BoE inaction Lifts GBP, Comments Hurt CHF Articles & I= deas A Weak Yen Is the Solution for Now What's Next For the Euro? = Articles & Ideas Forex Glossary Economic Indicators Forex Guides Lin= k Library [IMAGE] =09 =09=09[IMAGE][IMAGE] [IMAGE][IMAGE]=09 =09=09 This e-mail is never sent unsolicited. If you wish to unsubscribe fr= om this or any other Forexnews.com newsletters, please click here . =09