Message-ID: <24364783.1075861038034.JavaMail.evans@thyme> Date: Mon, 28 Jan 2002 16:09:14 -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: <info@forexnews.com>@ENRON X-To: Shackleton, Sara </O=ENRON/OU=NA/CN=RECIPIENTS/CN=SSHACKL> 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 28, 7:00 PM: EUR/$..0.8609 $/JPY..133.53 GBP/$..1.4091 $/CHF.= .1.7077 Japanese Forex Trading Preview by Darko Pavlovic At 6:00 PM Dece= mber Unemployment rate 5.6% vs. 5.5% in November. At 6:50:00 PM Japan Decem= ber Ind.Prod. (exp 2%, prev -1.7%) Japan December unemployment rate rose t= o a record high of 5.6% from 5.5% in November. The number of unemployed ros= e to 3.37 million. Japan Dec wage earners' spending fell 4.4% y/y and jobs = to applicant ratio is down 0.51 from 0.53 in Nov. USD/JPY did not react to = news hovering around 133.55 yen. The greenback is up vs. the yen after fall= ing to a low of 133.20 overnight. Speculation of ratings downgrades is also= likely to pressure the yen in the immediate future. December Preliminary I= nd. output rose 2.1% from November. Oct-Dec Prel. Output fell 2.3% from the= previous quarter, 4th straight qtr of decline. Japan Jan manuf. output see= n up 1.4% m/m amd Feb manuf. output forecasted to raise 0.6% m/m. Japan Met= i repeated ind output in declining trend. Japan's Lower House budget commit= tee passed a Y2.5 trillion deflation-fighting supplementary budget Monday.T= he second extra budget for this fiscal is aimed to help finance a Y4.1 tril= lion spending package and support the economy in the outcome of the Sept. 1= 1 attacks. The budget will also help PM Koizumi to speed up much-needed str= uctural reforms. Former U.S. Treasury Secretary Lawrence Summers, now Presi= dent of Harvard University told PM Koizumi that he fully supports implement= ation of structural reforms. Summers spoke with Koizumi about the current s= ituations of the forex markets the world economy.Upside capped at 134.50, 1= 34.90 and 135.30. Support stands at 133.50, 132.80 and 132.40. The dollar= held the European currencies near their 6-month lows, but gave up ground t= o the yen as a result of the gains in its cross-pairs. As an indication of = the dollar's strength, the US Dollar Index soared to 120.35, just shy of it= s 15-year high of 121, but later eased down to around the 120.0-level. E= UR/USD climbed to 86.10 after plunging to a fresh 6-month low of 85.73 in s= pite of a better-than-expected rise in the German Ifo business climate indi= cator that rose to 86.3 in January from an extrapolated reading of 85.8 in = December. In response to the third monthly rise in the index, Ifo Chief Ner= b commented that German appeared to be in the early stages of a recovery, a= nd urged the European Central Bank to continue to lower interest rates to e= nsure a recovery. The single currency was likely pressured as well by the r= ise in M3 to 8% in December, and the gain in the M3 three-month moving aver= age to 7.8% in December from the previous 7.4% and well above the inflation= target of 4.5%. Nonetheless, the ECB has tended to brush aside the surges = in M3 by explaining them as irregularity, though it does create concern whe= ther upward price pressures will deter the central bank from easing monetar= y policy. Resistance is viewed at 86.60, 87.0 and 87.50. Support is seen at= 85.55-- the 71.8% Fibonacci retracement of the move from 82.25 to 95.95, b= acked by 85.0 and 84.50. Economists forecasted that tomorrow's release of= the Conference Board Consumer Confidence index will rise to 96.9 in Januar= y from the previous 93.7, boosted by an increase in consumer expectations. = Should the confidence survey surprise even more on the upside, the dollar w= ill likely reap gains from the data that foretells a promising economic out= look. Other major US data due for release this week include durable good= s, real GDP, the FOMC rate decision, jobless claims, employment cost index,= personal income and consumption, Chicago Purchasing Managers survey, labor= market report, University of Michigan confidence survey, and ISM Purchasin= g Managers Index. In addition to President Bush's State of the Union addr= ess, tomorrow marks the first day of the Federal Reserve's monetary policy = meeting. The majority of analysts have concluded that the Fed is unlikely t= o cut interest rates when the FOMC unveils its decision Wednesday afternoon= , especially after Greenspan adjusted his remarks about the economy with a = more upbeat tone. Key Eurozone indicators consist of Italian foreign trade= , French INSEE industry survey, Italian PPI, Euroarea retail sales, German = CPI, French unemployment, French current account balance, Euroarea manufact= uring PMI, Euroarea HICP, balance of payments, German PMI, French PMI, Fren= ch INSEE household survey, Italian PMI, Italian CPI and Spanish unemploymen= t. Economic data from the UK comprise the Gfk consumer confidence survey an= d the purchasing managers survey for manufacturing. Highlights from Japan c= omprise the labor force survey, the household survey of expenditures, indus= trial production, Shoko Chukin small firm survey and employment survey. = =09[IMAGE] Audio Mkt. Analysis USD Retreats Ahead of Data Flood Artic= les & Ideas How Will the Dollar Fare Amid the Data Barrage? ECB: One Mor= e Cut Articles & Ideas Forex Glossary Economic Indicators Forex G= uides Link Library [IMAGE] =09 =09=09[IMAGE][IMAGE] [IMAGE][IMAGE]=09 =09=09 This e-mail is never sent unsolicited. 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