Message-ID: <23618640.1075861042562.JavaMail.evans@thyme> Date: Wed, 20 Feb 2002 16:12:17 -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 20, 7:00 PM: EUR/$..0.8700 $/JPY..133.77 GBP/$..1.4271 $/CHF= ..1.6997 Japanese Forex Trading Preview by Darko Pavlovic At 6:50:00 PM = Japan Dec Tertiary Index (exp -1.5%, prev 1.7%) Japan Dec All ind. index (e= xp -0.5%, prev 0.4%) The dollar is likely to test 134 yen on Tokyo's Thurs= day trading following the rise in US stocks and optimism about the world's = biggest economy. In Asian trading, the Japanese currency had risen on repo= rts that Bank of Japan Governor Hayami had asked Prime Minister Koizumi to = consider injecting public funds into the ailing banking sector, although go= vernment spokesman Fukuda later denied. Markets will eye speech from former= finance minister for international affairs Sakakibara alias Mr. Yen for hi= s most of the times accurate predictions about the economic outlook. The sp= eech is due at 1:00 AM EST. Japan Dec all industries activity index rose 1%= from the previous month. The core component of tertiary sector index rose = 0.7%. For the Oct-Dec quarter the all industries index fell 0.7% from the p= revious quarter. The tertiary index was up 0.1% In the immediate-term, the = yen's losses are likely to be limited by repatriation before the Japanese f= iscal year ends on March 31, after which point, the currency is seen to tum= ble further in the absence of crucial reform initiatives. The mid sized bui= lder company Haseko's shares had been temporarily suspended in Tokyo tradin= g after media reports that the company will ask creditors to covert 150 bln= yen in debt to equity. The lower house Budget Committee will hold public h= earings on the fiscal 2002 budget next week, clearing the way for the budge= t's passage in the full lower house as early as March 5. Subsequent to pass= age in the lower house, the government and the coalition parties expect to = have the full upper house approve the fiscal 2002 budget on about March 20.= The January consumer sentiment index rose 5.4 points from the previous mon= th to -31.2, its first improvement in two months. Of respondents, 9.5% repo= rted improved circumstances, up 2.4 pts from December, and 40.7% reported a= worsening in their financial state, down 3.0 pts. The BoJ Hayami was reluc= tant on Feb. 15 meeting to increase its outright monthly govt. bond purchas= es due to negative side effects on long term rates. The Finance Minister Sh= iokawa has frequently said he would like the BOJ increase its JGB buys to Y= 1.0 trillion from the current Y800 billion. Resistance is eyed at 134.0, 13= 4.45 and 134.85. Support holds at 133.20, 133.0 and 132.50. EUR/USD is tra= ding just below 87 cents as the euro failed to profit on stronger than expe= cted Italian ISAE Consumer Confidence Survey which gained 1.6 points to 126= , showing that customers felt the most optimistic in 12 years since unemplo= yment has been falling. Market participants believe that Euroarea consumpti= on will have to replace weak business spending in order to avoid a recessio= n in the Eurozone. The ISAE commented that consumers were "more positive ab= out the near-term prospects for the economy", adding that they did not anti= cipate significant inflationary pressures. Support is viewed at 86.80, 86.4= 5/50 and 86.10. Resistance is seen at 87.85, 88.10 and the 200-day moving a= verage at 88.5 Cable fell after Bank of England's Monetary Policy Committe= e meeting minutes showed that two of the nine members voted in favor of a 2= 5-bp rate cut. Markets wait for tomorrow's release of UK retail sales that = are expected to edge up 0.6% m/m or 5.8% y/y in January. The pound could re= new its climb should the data show strong levels of consumption that would = induce the central bank to raise interest rates. Support stands at 1.4225, = 1.420 and 1.4150. Upside capped at 1.4340, 1.4365 and 1.440. Markets will = first assess tomorrow's US international trade balance, which is expected t= o widen to 28.3 billion in December from the previous deficit of 27.8 bil= lion as sluggish global demand takes its toll on US exports.Then traders wi= ll look at tomorrow morning's release of the Index of Leading Indicators th= at is forecasted to post a more moderate gain to 0.5% in January from the p= revious increase of 1.2% due to improvements in jobless claims and in the I= SM manufacturing survey. This week's other key US indicators consist of = jobless claims, Philadelphia Fed survey and the Federal budget. Eurozone hi= ghlights include German CPI, Italian industrial orders, Euroarea balance of= payments, Euroarea foreign trade, French GDP, Italian CPI and Spanish CPI.= The last data release from the UK this week is the CBI Industrial Trends s= urvey. The remaining economic indicator from Japan is the index of tertiary= sector activity. =09[IMAGE] Audio Mkt. Analysis Yen Tumble Drives up EU= R/USD Articles & Ideas Off Goes the Franc, On Comes Jospin JPY: Ja= pan's Reform Dilemma Articles & Ideas Forex Glossary Economic Indic= ators 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 . 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