Message-ID: <22078454.1075861041908.JavaMail.evans@thyme> Date: Sun, 17 Feb 2002 16:11:00 -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 February 17, 7:00 PM: EUR/$..0.8726 $/JPY..132.66 GBP/$..1.4315 $/CHF= ..1.6975 Japanese Forex Trading Preview by Darko Pavlovic At 12:00:00 AM= Japan Dec Leading Indicator revised (exp n/a, prev n/a) In quiet trading= ahead of US public holiday, USD/JPY hovering around 132.70 yen, waiting fo= r US President Bush and Japanese PM Koizumi' meeting on Monday. Markets hop= e that Japanese government will present to American counterparts a concrete= proposal how to deal with bad loans issue and deflation, but many believe = that the plan will be a disappointment. Traders expect that PM Koizumi will= emphasize that yen should be left to markets and Bush is likely to defend = strong dollar policy. The yen was hurt after Japanese Financial Services Mi= nister Yanagisawa said that the government is not going to save banking sys= tem loaded with trillions of bad loans, which further sparked pessimism abo= ut the future economic outlook. But Economic Minister Takenaka said the gov= ernment should disclose the results from inspection of bank's bad loans pri= or to March 31 ( the end of fiscal year in Japan). Takenaka added that it i= s possible that the government will inject public funds into banks by March= 31 to help them refill their capital. As of September 30, bad loans totale= d 37.4 bln yen. On Friday, Japanese bankruptcies ballooned to a record leve= l of 19.3% but the yen benefited by downward pressure on the dollar, as wel= l as yen repatriation ahead of the fiscal year book closings on March 31. U= SD/JPY support is seen at the 132-yen level, backed by 131.70 and 131.20. U= pside capped at 133.0, 133.35/40 and 133.70. EUR/USD is trading around 87.= 30 as the sentiment towards the single currency turned negative on apprehen= sion that Eurozone inflation in January is likely to be revised higher afte= r data from Portugal, Greece and Germany showed that consumer prices rose r= espectively to 3.5%, 4.4%, and 2.3% y/y in January. The rise in inflation d= iminishes the European Central Bank's inclination to lower rates in the nea= r-term, even though growth in the Eurozone continues to be sluggish. Finall= y, the euro may be supported ahead of the US holiday weekend on short cover= ing. Resistance is seen at 87.50, followed by 88.20 and the 200-day moving = average at 88.50. Key support holds at 86.80, 86.45/50-- the 61.8% retracem= ent of the most recent climb starting on Feb. 1, and 85.50. Looking forwar= d to this week, key US indicators consist of housing starts and permits, CP= I, jobless claims, international trade, index of leading indicators, Philad= elphia Fed survey and the Federal budget. Eurozone highlights include indus= trial production, Germany's ZEW economic sentiment survey, Italy's ISAE con= sumer confidence survey, Spanish GDP, German PPI, German import prices, Ger= man CPI, Italian industrial orders, Euroarea balance of payments, Euroarea = foreign trade, French GDP, Italian CPI and Spanish CPI. =09[IMAGE] Audio= Mkt. Analysis JPY, EUR rebound vs USD Articles & Ideas GBP: Old Lad= y Faces Old Problem Euro Rally Running Out of Steam Articles & Idea= s 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