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[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 = Preview January 13, 7:00 PM: EUR/$..0.8942 $/JPY..131.82 GBP/$..1.4492 $/CH= F..1.6530 Japanese Forex Trading Preview by Darko Pavlovic No key data T= he yen gained against the dollar after Malaysian Prime Minister Mohamed ask= ed Japan to stem its currency decline, joining the chorus of Chinese and So= uth Korean officials who already expressed their dissatisfaction with the r= ecent yen fall. Japanese Trade Minister Hiranuma said Friday that the yen w= as nearing a downward limit of 135 yen per dollar. The recent rhetoric from= Japanese officials about the yen's recent decline come as Prime Minister K= oizumi's current visit to Southeast Asia. Seems that Japan is attempting to= appease its Asian neighbors who have become increasingly vociferous as tra= ders test the yen's downside. Chinese Foreign Ministry spokesman Sun Yuxi c= ommented that the "continued devaluation of the Japanese yen will have an a= dverse impact on the economic development and financial stability in Asia",= and expressed China's hopes that Japan would take a responsible attitude o= n the yen to prevent falls in other Asian currencies. Economics Minister Ta= kenaka pronounced that the current exchange rate is not too far off from fu= ndamentals, since in his view the Japanese economy could be faced with more= downside in the next 3-6 months. Taku Yamasaki, secretary general of Japan= 's ruling LDP party said that while current tax rates will remain unchanged= or be lowered for the time being, they may be raised in the mid- and long-= term in order to achieve fiscal structural reform. U.S. President Bush will= make his first official visit to Japan in the second half of February. His= meeting with Prime Minister Junichiro Koizumi will possible be dominated b= y discussions on how to secure Japan's economic recovery and avert a global= recession Support is seen at 131.0 and 130.80. Resistance is eyed at 132.2= 0, 133.0 and 133.40. On Friday, Federal Reserve Chairman Greenspan stated = the US economy is stabilizing though it continues to face "significant near= -term risk. Therefore, he cautioned against prematurely concluding that the= forces restraining the economy have abated even though recent data has bec= ome mixed from "unremittingly negative". Greenspan noted that energy prices= must continue to fall. He opined that the present cycle will be driven by = corporate profits and capital investment. Finally, Greenspan commented that= it is unclear whether the effects of September 11 on productivity are smal= l or just delayed. Greenspan's speech likely mean that the Fed is maintaini= ng an easing bias, thereby hinting possibly at another 25-bp rate cut to 1.= 5% at the next FOMC meeting on January 29-30. In fact, Fed Fund futures ind= icated a 60% chance of a rate cut this January following Greenspan's words.= Looking ahead to this week, major indicators due from the US consist of re= tail sales, business inventories, CPI, industrial production, the Fed Beige= Book, jobless claims, housing starts and permit, the Philadelphia Fed surv= ey, international trade, and the University of Michigan confidence survey. = The single currency is trading around 89.43 deriving strength from Greens= pan's cautious stance of the outlook of the US economy and Friday's remarks= from EU's Prodi who saidthat the euro will be an attractive alternative to= the dollar. Prodi also observed there are signs the European economic down= turn may be short-lived. Traders will take their cues from next week's key = Eurozone data including Spanish retail sales, German ZEW economic sentiment= survey, French industrial production, German GDP, Italian CPI, Dutch GDP, = Euroarea industrial production and Italian industrial production. Upside ca= pped at 89.80 and 90.0. Support stands at 89.0, backed by 88.80 and 88.60. = =09[IMAGE] Audio Mkt. Analysis BoE inaction Lifts GBP, Comments Hurt C= HF Articles & Ideas Greenspan Widens Door for One More, But... A = Weak Yen Is the Solution for Now Articles & Ideas Forex Glossary E= conomic 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 fr= om this or any other Forexnews.com newsletters, please click here . =09
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