Message-ID: <4470771.1075861045129.JavaMail.evans@thyme> Date: Mon, 4 Mar 2002 16:13:03 -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 March 4, 7:00 PM: EUR/$..0.8692 $/JPY..132.00 GBP/$..1.4225 $/CHF..1.= 6994 Japanese Forex Trading Preview by Darko Pavlovic No key data. The= yen is trading above 132 vs. the dollar, after reaching a two week highs o= f 131.85 boosted by a 5.9% or 638 point surge in the Nikkei to a 6-month hi= gh of 11,450 due to yen repatriation ahead of the fiscal year end on March = 31. If Nikkei continues to rise on Tuesday, which is likely, given the surg= e in US stocks today (The Dow skyrocketed 2.1% or 217 points to 10586 and N= ASDAQ rose 3.1% or 56 points to 1859) the yen could strengthen vs. the doll= ar to a year highs of 130.30. Investors were encouraged by signs that large= Japanese banks, such as Mizuho that let construction company Sato Kogyo go= bankrupt, were taking steps to address the issue of non-performing loans. = Moreover, the Nikkei has been lifted by the government's announcement of mo= re stringent requirements on short-selling stocks last week. Furthermore, i= nvestors welcomed news that the Bank of Japan had increased its monetary ba= se by 27.5% in February, in its largest rise since the oil crisis in 1974, = reflective of Japan's efforts to address its ailing economy. The Nihon Keiz= ai Shimbun reported that according to 98 company presidents and chairperson= s surveyed late last month 70.4% think that structural reforms promised by = PM Koizumi are "slightly behind schedule . Some 61.4% cited "elimination of= nonperforming loans" as the lagging area of structural reform, and over 90= % are unsatisfied with progress made on bad loan disposals. Top officials f= rom banking and life insurance industry groups said Monday that the governm= ent should stop the development of the state-run savings and life insurance= systems, as they force private financial institutions' operations. A publi= c postal corporation, to be set up in 2003, must watch its innovative plan = of balancing the private sectors and bound the area of its operations. Janu= ary workers' total cash earnings totaled Y302, 118 down 2.3% from a year ea= rlier, according to preliminary data released Monday by the Ministry of Lab= or, due to the harshness in employment situation and signifying consumer sp= ending could decline further in months ahead. Japanese Economic Minister Ta= kenaka said that bank problems after special inspections would become main = issue for Japan govt. Takenaka added that daily stock market price swings s= hould not be yardstick for govt policy and FinMin Shiokawa said would make= more effort for specific anti-deflation measures. Shiokawa also said Toky= o stocks won't rise decisively unless economy recovers. USD/JPY support is = seen at 132.0, 131.75 and 131.50. Resistance is viewed at 134.0, 134.40 and= 134.80. EUR/USD is trading just below 87 cents after rising to a 1-week h= igh of 87.13 after Eurozone business climate indicator climbed to its highe= st in 5 months to -0.86 in February suggesting an economic recovery is occu= rring. The EU's Rato noted the presence of signs of an economic pick up in = the US and Europe, and thus he expects a recovery to consolidate over the n= ext few months. In the meantime, the EU's Solbes also expressed his expecta= tion for a gradual recovery in the first half of this year, since he believ= ed the Eurozone economy bottomed last quarter. Solbes projected the Europea= n economies would post average growth rate of 1.5% in 2002. Upside capped a= t 87.20, 87.40 and 87.80. Support stands at 86.30, backed by the 86.0-cent = figure, and 85.50. Major data due from the US this week consist of factory= orders, jobless claims, productivity, consumer credit, and the labor marke= t report. Key Eurozone indicators include the Euroarea Services PMI, Euroar= ea unemployment, German Services PMI, French Services PMI, Italian Services= PMI, Spanish industrial production, German manufacturing orders, German un= employment, ECB rate decision, Italian GDP and Dutch CPI. The main data rel= eases from the UK are the purchasing managers survey for services, the CBI = survey of distributive trades, the NTC/FRES report on jobs, housing starts = and the Bank of England's rate decision. Highlights from Japan comprise the= MoF corporate survey, trade balance, indices of business conditions, GDP, = money supply and wholesale prices. =09[IMAGE] Audio Mkt. Analysis JPY Dr= ags Down USD to 2 1/2 Week Low Articles & Ideas Euro: The Lonely Ten= der JPY: Koizumi Fails To Deliver 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. 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