Message-ID: <21292046.1075861045596.JavaMail.evans@thyme> Date: Tue, 5 Mar 2002 16:04:53 -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 5, 7:00 PM: EUR/$..0.8711 $/JPY..132.25 GBP/$..1.4235 $/CHF..1.= 6948 Japanese Forex Trading Preview by Darko Pavlovic At 6:50:00 PM Japan= Feb Business Confidence (exp n/f, prev n/a) The dollar looks steady aroun= d 132.20 yen after falling to a six week low of 131.57 due to a strong repa= triation flows ahead of March 31, the end of fiscal year. Nikkei fell yeste= rday after gaining almost 6% on Monday and traders are waiting for to see t= he stock performance today, as the rise could strengthen the yen. Nonethele= ss it is likely that the USD/JPY will hover around 132.50 area. The dollar = got support after ISM non-mfg index jumped to its highest levels since Nove= mber 2000, boosting market expectations for the faster US recovery. Markets= ask the govt. to incorporate tax reform into the anti-deflation package th= at it is expected to strike as early as this month. Many consider the renew= al of private demand through tax reform crucial, especially in reducing the= corporate and inheritance tax rates. Panelists on the Forum for Policy Inn= ovation would like to see the BoJ placing inflation target as it would forc= e the central bank to rally all kinds of measures at its disposal in order = to attain a preset level of price increases. Many government and ruling par= ty officials have hard-pressed the BOJ to set inflation target.Japan's Oct-= Dec cap spending fell 14.5% from previous year. Big firms Jan-Mar sentiment= index is at -22.1 (compared with -28.3 for Oct-Dec period) Oct-Dec curre= nt profits down 31.4% y/y. Japanese firms see 01/02 sales down 4.2% y/y Jap= anese companies Oct-Dec sales down 3.8% y/y Japan firms see 01/02 current p= rofits down 23.2% y/y The lower house will likely pass on Wednesday by a ma= jority vote the 81.23 trillion yen budget for fiscal 2002, clearing the way= for final Diet approval before the end of the current fiscal year. Japan's= Center for Economic Research announced that GDP grew 1.9% from the precedi= ng month in January, the first positive month-on-month GDP growth in three = months due to an increase in consumer spending and exports. Resistance is e= yed at 132.70, 133.0 and 133.50. Support stands at 132.0, 131.75 and 131.50= . Today, President Bush announced the decision to levy a 30% tariff on ste= el imports that portends the start of a trade war. The US explained that th= e tariffs would be "temporary safeguard measures" and would remain in place= for three years starting on March 20. Analysts noted that the government w= as enacting these measures in order to avoid a change in the strong dollar = policy and to help the ailing US steel industry in an election year. EUR/= USD is trading around 87.10 after hitting a 1-week high of 87.20, supported= by the second consecutive monthly rise in the Eurozone services PMI to 51.= 1 in February from the prior month's 51.0. In particular, the new business = component broke above the key 5-level to 50.6 from 49.7 for the first gain = since last summer, thereby spurring hopes that an economic recovery in the = Eurozone is imminent. The single currency overlooked a 6,200 count rise in = the German unadjusted total to 4.296 mln today, while Euroarea unemployment= eased to 8.4% in January. Increasing signs of a turnaround in the Eurozone= are thus fueling the prevailing belief that the European Central Bank will= keep rates unchanged at 3.25% this Thursday at its monetary policy meeting= and may even raise rates later in the year. Resistance is seen at 87.20, 8= 7.40 and 87.80. Support is viewed at 86.30, backed by the 86.0-cent figure,= and 85.50. Major data due from the US this week consist of factory order= s, the Fed Beige Book, jobless claims, productivity, consumer credit, and t= he labor market report. Key Eurozone indicators include German manufacturin= g orders, German unemployment, ECB rate decision, Italian GDP and Dutch CPI= . The main data releases from the UK are the NTC/FRES report on jobs, housi= ng starts and the Bank of England's rate decision. Highlights from Japan co= mprise the MoF corporate survey, trade balance, indices of business conditi= ons, GDP, money supply and wholesale prices. =09[IMAGE] Audio Mkt. Analy= sis Trade Concerns Overwhelm USD, Despite Data Articles & Ideas Will= Dollar be Fuelled against the Euro? Euro: The Lonely Tender Articl= es & Ideas Forex Glossary Economic Indicators Forex Guides Link Libra= ry [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