Message-ID: <29309263.1075861037802.JavaMail.evans@thyme> Date: Sun, 27 Jan 2002 17:31:53 -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 Pre= view January 27, 7:00 PM: EUR/$..0.8640 $/JPY..134.80 GBP/$..1.4083 $/CHF.= .1.7040 Japanese Forex Trading Preview by Darko Pavlovic No key data. T= he dollar remains strong across the board after rising on Friday to a six- = month high against the euro and powerful rally vs. the yen, on market confi= dence the U.S. economy will recover from recession in coming months yen. Th= e yen fell for eighth day in nine on concern reports this week will show Ja= pan's jobless rate rose to a record and consumer spending slowed in Decembe= r, fueling market perception the economy is worsening. Reports due Tuesday = will possibly show Japan's workers' household spending rose 0.9% in Decembe= r from November, after rising 3.6% in the previous month, and the jobless r= ate rose to a record of 5.6% On Friday Japan's Vice Economics Minister Koba= yashi said that the weaker yen is beneficial for corporate profits. In addi= tion, fears that Japan's sovereign-debt rating will soon be downgraded has = convinced most dealers that there is further weakness in store for JPY. Sup= port is seen at 134.0, 133.80 and 133.60. Resistance is seen at 135.00, fol= lowed by 135.40 and 136.00. The euro is trading around 86.40 after falling= to a new 6-month low of 86.29 against the dollar amid optimism about the f= ast US recovery. On Friday, the euro came under heavy downward pressure as = news of the monthly increase in Italian inflation stoked fears that the Eur= opean Central Bank may not be able to cut interest rates in the near future= if inflation does not fall below the 2% target level. Based on the prelimi= nary CPI figures from 12 cities, economists forecasted Italian CPI in Janua= ry would hold steady around 2.3-2.4% y/y from the previous month, but rise = to 0.4-0.5% m/m vs. 0.1% in December. Markets will also look to next week= 's German CPI data to see whether it confirms an upswing in inflation that = may restrain the ECB from easing monetary policy. Economists forecast Germa= n CPI will rise to 0.9% m/m from 0.1% in December, and to 2.1% y/y in Janua= ry vs. the previous 1.7%. Also, German IFO will likely show that business c= onfidence rose in January, adding to expectations Europe's largest economy = may recover from recession The Ifo economic is likely to rise to 85.7, from= 84.9 in November. Ifo didn't conduct a survey in December. Support is seen= at 86.0 and 85.55-- the 71.8% Fibonacci retracement of the move from 82.25= to 95.95. Resistance is viewed at 88.15, 88.60 and 89.10-- the 50% Fibonac= ci retracement of the move from 82.25 to 95.96. Looking foward to this wee= k, major US data due to be released include new home sales, durable goods, = Conference Board Consumer Confidence, real GDP, FOMC rate decision, jobless= claims, employment cost index, personal income and consumption, Chicago Pu= rchasing Managers survey, labor market report, University of Michigan confi= dence survey, and ISM Purchasing Managers Index. Key Eurozone indicators co= nsist of Euroarea M3, German Ifo business climate index, French PPI, Italia= n foreign trade, French INSEE industry survey, Italian PPI, German CPI, Fre= nch unemployment, French current account balance, Euroarea manufacturing PM= I, Euroarea HICP, Euroarea retail sales, balance of payments, German PMI, F= rench PMI, French INSEE household survey, Italian PMI, Italian CPI and Span= ish unemployment. Highlights from Japan comprise the labor force survey, th= e household survey of expenditures, industrial production, Shoko Chukin sma= ll firm survey and employment survey. =09[IMAGE] Audio Mkt. Analysis USD= Soars to 6-month Highs on Optimism Articles & Ideas ECB: One More C= ut NAM & the Strong Dollar: Phase II Articles & Ideas Forex Glossa= ry 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 . Any = opinions expressed by representatives of Forexnews.com or its affiliates as= to the commentary, market information, and future direction of prices of s= pecific currencies reflect the views of the individual analyst, and do not = necessarily represent the views of Forexnews.com or its affiliates in any w= ay. In no event shall Forexnews.com or its affiliates have any liability fo= r any losses incurred in connection with any decision made, action or inact= ion taken by any party in reliance upon the information provided in this ma= terial; or in any delays, inaccuracies, errors in, or omissions of informat= ion. =09