Message-ID: <5579109.1075861033996.JavaMail.evans@thyme> Date: Wed, 9 Jan 2002 16:29:17 -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 9, 7:00 PM: EUR/$..0.8916 $/JPY..133.02 GBP/$..1.4384 $/CHF= ..1.6569 Japanese Forex Trading Preview by Darko Pavlovic No key data. = USD/JPY is trading near its three years high around 133.15 boosted by fresh= comments from Economic Minister Takenaka who said currency levels should b= e left to the markets, sparking a new yen sell. Takenaka is currently in th= e US and markets are looking for any indication from Washington that will t= olerate further yen weakness. The yen retraced off its 3 year lows after Ja= pan's chief government spokesman Fukuda, said the currency's 9% drop agains= t the dollar during the past two months was a bit rapid.'' Fukuda's comme= nts raised speculation the government would try to slow the decline, ahead = of Prime Minister Koizumi's trip to Southeast Asia. Japanese officials are = in favor of a weaker yen to increase exports and help draw the economy out = of recession. Officials from South Korea's Finance and Economic Ministry wh= o expressed his discontent with the weakening in the yen because it created= depression in other Asian markets. The BoJ is likely to adopt asset-backed= commercial paper as a tool in its open-market operations when they meet ne= xt Tuesday and Wednesday. The BoJ wants to raise wariness about credit risk= that could start to arise in late March, the end of fiscal year in Japan. = A total of 22 third-sector companies went bankrupt in calendar 2001, most o= f them in regional tourism and leisure industries. Koizumi left Japan on We= dnesday morning for a weeklong tour of five Southeast Asian nations, which = include Philippines, Malaysia, Thailand, Indonesia and Singapore and delive= r a speech on Japan's Southeast Asia policy in Singapore. According to the = Ministry of Telecommunications Japan will be able to create 1.85 million j= obs by 2005. Resistance is seen at 133.40 and 134.50. Support is viewed at = 132.20, 131.50 and 131.0. The euro is trading around 89.15 after falling = to a one and a half week lows of 88.66 after Eurozone business climate fell= to a 5-1/2 year low of -1.23 in December from -1.20 in Nov. The greater-th= an-expected upward revision in Q3 labor costs and earnings to 3.3% from the= previous 2.7% was also cause for concern. Finally, German Chancellor Schro= eder's statement that the German government would soon announce measures to= promote low wage job creation without hurting deficit goals worked more to= undermine the euro than shore up the currency. The single currency benefit= ed from fall in the US stocks, which retreated into negative territory late= in the trading session on a combination of rumors and a large sell-order. = The Dow fell 56 points to 10094 and NASDAQ finishing down 10 points to 2044= . For most of the day, equities had been boosted by Cisco's announcement th= at it anticipated an increase in its market share and planned to make acqui= sitions to diversify its product line. Upbeat outlooks from Oracle and Coac= h also helped lift shares. Initial support is seen at 89.0, backed by 88.80= and 88.60. Upside capped at 89.55, 89.80 and 90.0. The Federal Reserve is= planned to meet for its monetary policy meeting on January 29-30 in the pe= ak of earnings season. While there are some bears who expect gloomy results= in the first quarter compared with the previous one, other investors are b= ullish about the equity markets' outlook given that so far earnings expecta= tions have been fairly optimistic. This week's major US indicators compris= e jobless claims, import and export prices, wholesale trade and PPI. Key Eu= rozone economic releases include Euroarea GDP, ECB monthly bulletin, German= industrial production, German foreign trade, Spanish industrial production= , Dutch manufacturing production, French GDP, French current account, Frenc= h CPI, Dutch CPI and Spanish CPI. Highlights from Japan consist of wholesal= e prices, money supply and the ESRI Tokyo consumer sentiment survey. The ma= jor event of this week will be the Bank of England's monetary policy meetin= g on Thursday, although no rate cut is expected. =09[IMAGE] Audio Mkt. = Analysis Takenaka Leaves Little Doubt on Japan's FX Stance Articles = & Ideas What's Next For the Euro? A Look Back at 2001, Forex Themes for = 2002 Articles & Ideas Forex Glossary Economic Indicators Forex Gu= ides Link Library [IMAGE] =09 =09=09[IMAGE][IMAGE] [IMAGE][IMAGE]=09 =09=09 This e-mail is never sent unsolicited. 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