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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 Pre= view February 24, 7:00 PM: EUR/$..0.8751 $/JPY..134.03 GBP/$..1.4316 $/CHF= ..1.6896 Japanese Forex Trading Preview by Darko Pavlovic At 6:50:00 PM= Japan Jan Trade Balance (exp n/f, prev 661.3 bln) The dollar is trad= ing above 134 yen, as markets wait for Japan's anti deflation program due o= ut on Wednesday that could bring some hope to already ailing economy. Due a= lso this week is Bank of Japan's Policy Board meeting on Thursday and US Fe= d Chairman Greenspan's bi annual speech before Congress on Wednesday. Prime= Minister Koizumi is expected to announce his plans to fight deflation on W= ednesday, and measures include proposals for the Bank of Japan to add forei= gn bonds and exchange-traded investment funds to its list of assets for pur= chase as well as increasing the amount of government bonds it purchases out= right.. Should the reform package disappoint markets, the yen is likely to = come under renewed downward pressure. It also urged the Resolution and Coll= ection Corp. to increase its purchase of problem loans from banks, calling = on the body to draw on the expertise of specialists in the area of corporat= e rehabilitation and debt appraisal. The RCC needs to upgrade it operations= , which now focus too heavily on minimizing possible losses on the loans it= acquires, according to the panel. Japan January customs cleared trade bala= nce turned to a surplus of 1881. bln yen after registering a deficit of 95.= 7 bln yen a year earlier. Japan's surplus with the US, its largest trading = partner rose 14.9% y/y to 524.8 bln yen, for the first time in 10 months.Up= side capped at 134.50, followed by 134.85 and 135.15. Support holds at 133.= 20, 133.and132.50. EUR/USD is trading around 87.50 rising on Friday's bet= ter-than-expected Eurozone current account surplus of 2.9 bln euros in Dece= mber that brought the c/a deficit down to 9.3 bln euros in 2001 from 70.1 b= ln in 2000. The gain in the current account surplus was offset by a fall in= portfolio investment of 11.1 bln euros in December, even though net portfo= lio flows reached a 40.9 bln euro inflow versus a 102.8 bln outflow in 2000= . In a recent Reuters survey, economists forecasted that although Eurozone = inflation would fall in February, it would still be above the European Cent= ral Bank's 2% ceiling and thus lessen the chances the ECB would lower rates= at its next monetary policy meeting on March 7. Eurozone HICP, which is du= e this Thursday, is estimated to edge down to 2.4% y/y from 2.5% in January= . Eventually, analysts foresee the central bank will cut rates when inflati= on falls lower, possibly by the second quarter of this year. Resistance is = seen at 87.85, 88.10 and the 200-day moving average at 88.50. Support is vi= ewed at 86.80, 86.45/50 and 86.10. Looking forward to this week, key US in= dicators include existing home sales, Conference Board Consumer Confidence = survey, durable goods, new home sales, jobless claims, GDP, Chicago Purchas= ing Managers Index, personal income and consumption, University of Michigan= confidence survey, ISM (formerly NAPM) PMI. In the midst of all the econom= ic releases, markets will be carefully listening to Fed Chairman Greenspan'= s semi-annual monetary policy testimony before the House Financial Services= Committee on Wednesday for any hint that the central bank may begin to rai= se interest rates sometime this year. Major data due for release from the E= urozone comprise German PPI, Spanish PPI, German Ifo business climate indic= ator, French CPI, Italian foreign trade, Euroarea M3, German GDP, French IN= SEE industry survey, French PPI, Italian retail sales, Belgian CPI, Euroare= a HICP, French unemployment, Italy's ISAE industrial confidence survey, Ita= lian PPI, Euroarea manufacturing PMI, Euroarea retail sales, German manufac= turing PMI, French manufacturing PMI, France's INSEE household survey, Ital= ian manufacturing PMI, Italian CPI, Italian GDP, and Spanish unemployment. = =09[IMAGE] Audio Mkt. Analysis USD Holds Steady Despite Drop in Stocks = Articles & Ideas Off Goes the Franc, On Comes Jospin JPY: Japan's R= eform Dilemma 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. 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
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