Message-ID: <2696457.1075861041498.JavaMail.evans@thyme> Date: Thu, 14 Feb 2002 16:13:46 -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 February 14, 7:00 PM: EUR/$..0.8740 $/JPY..131.87 GBP/$..1.4299 $/CHF= ..1.6965 Japanese Forex Trading Preview by Darko Pavlovic No key data. T= he yen rose to a one week high vs. the dollar, around 132, boosted by repat= riation flows ahead of the end of fiscal year on March 31, and by news that= Japanese Prime Minister Koizumi asked his economic ministers to formulate = anti-deflation measures prior to President Bush's visit to Japan this weeke= nd. Also lifting the Japanese currency was the rebound in the Nikkei index = back above the key 10,000-level. Additionally, the yen was supported by a s= tronger-than-expected current account surplus that surged 42% from the prev= ious year to 971.8 bln yen in December, arising more from an increase in th= e income surplus that outpaced its trade surplus. The Financial Services Ag= ency under direction of PM Koizumi will push banks to sell of their bad loa= ns debt to the Resolution and Collection Corp. as a part of 6-point plan to= stabilize the financial system. Koizumi's plan to stabilize financial syst= em has two main goals: to improve the balance sheets of major banks through= a sweeping disposal of non-performing loans and to stabilize the stock mar= ket. USD/JPY support is seen at the 132-yen level, also a double bottom for= mation, backed by 131.70 and 131.20. Upside capped at 133.0, 133.35/40 and = 133.70. EUR/USD rose to 87.40, boosted by Bank of France Governor Trichet= 's comments that the euro is currently undervalued. He reiterated that a st= rong euro is in Europe's interest, and moreover, highlighted signs of recov= ery present in Europe and the US. Overnight, the single currency had fallen= to a 1-week low of 86.80, weighed by an unexpected drop in German retail s= ales to -3.4% in December from the previous month's 1.6%, or to -4.1% y/y f= rom the previous -0.4%. Separately, the European Central Bank noted nothing= new about its inflation or growth outlook, but repeated that interest rate= s are appropriate to bring inflation below 2% this year. EUR/USD resistance= is seen at 87.50, followed by 88.20 and the 200-day moving average at 88.5= 0. Key support holds at 86.80, 86.45/50 the 61.8% retracement of the most r= ecent climb starting on Feb 1 and 85.50. The first piece of US data to be = released tomorrow morning is the Producer Price Index, which is expected to= rebound to 0.3% in January from the previous -0.7% on increasing oil and g= asoline prices. PPI Ex-Food/Energy is also forecasted to rise to 0.1% in Ja= nuary from the previous -0.1%. The next release will be US industrial produ= ction for which analysts project will either hold steady at -0.1% m/m or di= p to -0.3% in January because of a decline in hours worked. Manufacturing i= n most areas is likely to have slowed, with the exception being for high-te= ch which should rise for the second straight month to 1.0% in January vs. t= he previous 0.3% as orders accelerate. Finally, the University of Michigan = Sentiment survey is anticipated to edge up to 93.4 in the preliminary Febru= ary reading from the previous 93.0. However, other economists estimate the = index will fall to 90.8 because of uncertainty in the stock markets. Theref= ore, both the current conditions and expectations components of the confide= nce survey are expected to fall as well. Key Eurozone indicators consist o= f German CPI and HICP, French employment, French trade balance, French indu= strial production and Italian industrial production. The remaining data rel= ease from Japan is Tokyo department store sales. =09[IMAGE] Audio Mkt. A= nalysis JPY, EUR rebound vs USD 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 [I= MAGE] =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. 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