Message-ID: <17458567.1075861041299.JavaMail.evans@thyme> Date: Wed, 13 Feb 2002 16:04:59 -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 Pr= eview February 13, 7:00 PM: EUR/$..0.8712 $/JPY..132.98 GBP/$..1.4285 $/CH= F..1.700 Japanese Forex Trading Preview by Darko Pavlovic At Japan Dec C= urrent Account (exp 730 bln, prev 1125 bln) At 11:30:00 PM Japan Dec Ind p= rod. m/m (exp 2.1%, prev -1.7%) The dollar slightly eased vs. the yen, tr= ading around 133.00, off from its highs in New York trading of 133.45, boos= ted by strong US retail sales and more warnings to Japan from rating agenci= es. US retail sales (core) posted its largest increase since March 2000 and= excluding autos soared 1.2% in January from the previous revised 0.7%, hig= her than expected rise of 0.4%. Accounting for the majority of the gain in = core retail sales was a 5.1% surge in gasoline sales in January from the pr= evious revised -3.2%, marking its steepest rise since February 2000. The ye= n was hurt after Moody rating agency announced it might lower Japan's gover= nment domestic rating by up to two notches from the current Aa3. Yesterday,= Standard & Poor's said that it was considering changing its rating on Japa= n's debt unless Japan showed clear progress in structural reform and econom= ic recovery. Japan Dec unadjusted current account surplus rose 42% from a y= ear earlier to 971.8 bln yen. The current account surplus for 2001 fell 12%= from the previous year at 11.06 trln yen, while trade surplus for the year= plunged 32% to 8.52 trln yen. Currency markets will be listening for any c= omments that may emerge from President Bush's trip to Japan on February 17.= Rumors are circulating that Japanese authorities may announce at that time= a bail out package for Japan's banks, especially in light of the recent wa= rnings by Moody's and S?of further downgrades. In its February economic rep= ort the government said that "the Japanese economy continues to deteriorate= ", keeping its general economic assessment unchanged for the third straight= month. The assessment was unchanged in the areas of private consumption an= d capital spending while estimation for industrial production was upgraded.= PM Koizumi asked his economic ministers to draw up a comprehensive package= of measures to fight deflation. . The BoJ Governor Hayami said that Japan'= s financial system remains stable and central bank will take action if nece= ssary, but there is no need to increase government bond purchases now. Resi= stance is eyed at 134.0, 134.60 and 135.0. Support is seen at 133.0, 132.50= and 132.20. EUR/USD fell to one-third cent to a 2-session low of 87.08, = due to unexpected rise in US retail sales and market expectations that the = US economy is getting out of recession faster than the European one. ECB Vi= ce President Christian Noyer said that the single currency is extremely und= ervalued vs. the dollar and could strengthen without damaging European econ= omies, but his remarks had no impact on the euro. Upside capped at 88.0, 88= .50 and 89.0. Support holds at 87.0, 86.65 and 86.40. Tomorrow's release o= f US business inventories is likely to show a slight improvement to -0.5% i= n December from the previous month's -1.0%, helped by a rise in retail inve= ntories to -0.2% from the previous -1.0%. The change in inventories is seen= to bring down Q4 GDP from its preliminary reading of 0.2% q/q. Meanwhile, = import prices are expected to rise to -0.1% in January from -0.9% in Decemb= er, due to increasing oil prices. This week's other major US economic rele= ases include jobless claims, PPI, industrial production and the University = of Michigan confidence survey. Key Eurozone indicators consist of the ECB m= onthly bulletin, German retail sales, Dutch GDP, German CPI and HICP, Frenc= h employment, French trade balance, French industrial production and Italia= n industrial production. Highlights from Japan comprise the balance of paym= ents, industrial production and Tokyo department store sales. =09[IMAGE]= Audio Mkt. Analysis EUR Gives In, Dragging Down Cable Along Articles= & Ideas Euro Rally Running Out of Steam The Swiss National Bank and the= franc 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 . 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