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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 17, 7:00 PM: EUR/$..0.8812 $/JPY..132.46 GBP/$..1.4356 $/CH= F..1.6654 Japanese Forex Trading Preview by Darko Pavlovic At 11:30:00 PM= Japan Nov Ind Prod. final report (exp -1.8%, prev -0.2%) The yen was hurt= vs. the dollar and the euro after Bank of Japan's January report stated th= at the economy would continue to worsen, unchanged from its previous econom= ic assessment. The yen ceded two-third yen to bottom at a 1-week low of 132= .60 against the dollar and EUR/JPY rose to a session high of 116.79yen. On = Friday, markets will scrutinize speeches of several government officials th= at will likely influence the USD/JPY levels at the end of the week. Due to = speak are: PM Koizumi, BoJ Governor Hayami, Finance Minister Shiokawa and E= conomic Minister Takenaka. The yen got support after Vice Minister for Inte= rnational Affairs Kuroda's stated that Japan has no intention to weaken the= yen, but rather upholds the view that FX rates should reflect fundamentals= . Thus Kuroda explained that it was inevitable for a currency to fall if th= e economy was weak. Separately, markets are anxious to hear any comments th= at may emerge from US Treasury Secretary O'Neill's visit to Japan. The Fina= ncial Services Agency announced that a record of 46 small banks and credit = cooperatives went bankrupt last year due largely to strict inspections A to= tal of nine banks and 37 credit cooperatives accounts for 15% of Japan's to= tal credit cooperatives. PM Koizumi hinted Thursday the government could al= ter the current taxation base for corporate and individual income taxes as = a part of his structural reform initiatives. Koizumi added that reforming t= he tax system is a key element of his structural reform plans. The Nippon R= esearch Institute said Thursday its consumer sentiment index, an index on p= rospective living conditions in the coming year, deteriorated further in De= cember to a record high of 158, up 5 points from October. A higher reading = indicates bigger concern among consumers about their situation. Resistance = is eyed at 132.70, 133.0 and 133.35. Support holds at 131.80, 131.60 and 13= 1.30. EUR/USD is trading around 88.12 marking the 50% Fibonacci retraceme= nt of the move from 82.25 to 95.96 in today's US session. The single curre= ncy fell in the European session to a 3-week low of 87.92 cents after Germa= n GDP posted a fall of 0.6% in 2001 vs. the previous year's 3% growth rate.= In addition, the single currency was pressured by market speculation that = the EU would warn Germany and Portugal about their budget deficits rising t= owards the 3% of GDP limit, in accordance with the Maastricht Treaty. In pa= rticular, Germany is feeling the effect of falling growth and tax revenues = along with the need to increase spending to address unemployment. German Fi= nance Minister Eichel estimates the budget will comprise 2.5% of GDP this y= ear, in contrast with research institutes that predict a range between 2.7-= 3.0%.Support is viewed at 88.0, 87.50 and 87.0. Resistance is seen at 88.50= and 90.0 Tomorrow's US International Trade balance is expected to ease to= -29.0 billion in November from the previous -29.4 bln due to a deceleratio= n in both imports and exports as a consequence of the global slowdown. The = University of Michigan confidence survey is forecasted to rise to 89.3 in t= he preliminary January reading from the previous 88.8. Consequently the dol= lar is likely to find support as long as the data meets or exceeds expectat= ions. Finally, currency markets will be carefully monitoring tomorrow's mee= ting between representatives of the National Association of Manufacturers a= nd the US Treasury Undersecretary for International Affairs Taylor to discu= ss the repercussions of the strong dollar policy. Last week NAM Vice Presid= ent Vargo requested a meeting with the US Treasury to complain that the str= ong dollar policy is hurting the exports and slowing down the recovery of t= he US economy. Vargo thinks that the dollar is currently overvalued because= of its strength against the major currencies in spite of the US slowdown. = =09[IMAGE] Audio Mkt. Analysis USD Steadies Despite Equities Sell-off = Articles & Ideas Philly Fed-Supported Optimism EUR/USD: Technical = Analysis Articles & Ideas Forex Glossary Economic Indicators Fore= x 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 . Any op= inions expressed by representatives of Forexnews.com or its affiliates as t= o the commentary, market information, and future direction of prices of spe= cific currencies reflect the views of the individual analyst, and do not ne= cessarily represent the views of Forexnews.com or its affiliates in any way= . In no event shall Forexnews.com or its affiliates have any liability for = any losses incurred in connection with any decision made, action or inactio= n taken by any party in reliance upon the information provided in this mate= rial; or in any delays, inaccuracies, errors in, or omissions of informatio= n. =09
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