Japanese Preview

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echnicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek=
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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 10, 7:00 PM: EUR/$..0.8706 $/JPY..134.97 GBP/$..1.4131 $/CHF=
..1.6937 Japanese Forex Trading Preview by Darko Pavlovic No key data. =
The dollar is trading near its one-week highs vs. the yen, around 135, as t=
he markets expressed their pessimism about Japanese economic outlook and co=
ncern that the government and the BoJ are behind the curve in boosting the =
growth. The BoJ left interest rates unchanged last week and did not announc=
e any new measure to fight inflation and boost the growth. Even the governm=
ent was hoping that the central bank would decide to raise purchases of JGB=
s or take other measures to pump more liquidity into the system. The Nihon =
Keizai reported that the government could inject more than10 trln yen until=
September, but with request that the central bank further ease monetary po=
licy. Economic Minister Takenaka said that the plan could also deal with th=
e launch of government fund to buy shares that banks hold in other companie=
s. Finance Minister Shiokawa said Friday that he wants MoF to provide aroun=
d 2 trln yen to buy stocks from banks and asked the central bank to raise m=
onthly bond purchases to 1 trln yen. At G-7 meeting BoJ Governor Hayami sai=
d the central bank will support PM Koizumi's reforms as much as possible .=
Support is viewed at 133.40, 133.0 and 132.65. Resistance is seen at 135.1=
5 and 135.50. At G7 Finance Minister's Meeting held this weekend in Otta=
wa, Canada, ministers showed enthusiasm about the US growth and said the ec=
onomic outlook has improved since their last meeting. The G-7 did not talk =
about the weak yen and markets could be prompt to believe that fin minister=
s are comfortable with the current yen's level, which could bring the Japan=
ese currency to new lows. Japanese officials talked about the steps necessa=
ry to get the country out of recession and their US counterpart O'Neill sai=
d ministers were satisfied with explanation. G 7 Ministers also refrained=
from promising any financial help to Argentina. EUR/USD is trading aroun=
d 87 cents after rising on Friday to a 2-week highs of 87.53 boosted by ris=
e in German industrial production to 1.9% m/m from the previous -0.8%, or o=
n an annual basis to -1.8% from the previous -4.8%, that foretells of a pic=
kup in growth. Markets had been expecting a modest gain to 0.1%. EUR/USD en=
ded down roughly 10 pips from its opening level, as the dollar benefited fr=
om a late-day rally in US equities. Upside capped at 87.50, 88.0 and 88.50.=
Support holds at 87.0, 86.65 and 86.40. Looking forward to this week, ma=
jor US economic releases include retail sales, jobless claims, business inv=
entories, import prices, PPI, industrial production and the University of M=
ichigan confidence survey. Key Eurozone indicators consist of Spain's labor=
force survey, Euroarea EcoFin meeting, German foreign trade, Spanish retai=
l sales, ECB monthly bulletin, Dutch GDP, French employment, French trade b=
alance, French industrial production and Italian industrial production. Hig=
hlights from Japan comprise the balance of payments, Cabinet Office economy=
watchers survey and GDP. Markets will be closed in Japan on Monday in obse=
rvance of National Foundation Day. =09[IMAGE] Audio Mkt. Analysis EUR/JP=
Y Sets the Pace Articles & Ideas The Swiss National Bank and the fra=
nc A Weak Yen Bites Articles & Ideas Forex Glossary Economic Indi=
cators Forex Guides Link Library [IMAGE] =09
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