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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 28, 7:00 PM: EUR/$..0.8684 $/JPY..133.45 GBP/$..1.4160 $/CHF= ..1.6984 Japanese Forex Trading Preview by Darko Pavlovic At 12:00:00 AM = Japan Feb Vehicle Sales (exp n/f, prev n/a) The dollar fell to a one week = low vs. the yen around 133.20 after Japan's January unemployment unexpected= ly fell to 5.3%, for the fist time this year. Although positive data give s= ome sign for optimism, the economic outlook still look very depressed. Also= , nationwide core CPI fell 0.8% in January from a year earlier, 28th consec= utive month of decline, showing that deflation deepens. Tokyo's core consum= er prices fell 0.9% from a year ago, worse than economic forecast calling f= or a fall of 0.1% in January. January Japanese wage earners rose 0.2%, bett= er than markets forecasts which estimated a fall of1.9%. Wage earner spendi= ng is an important gauge of personal consumption, which accounts for roughl= y 55% of Japan's GDP. Overnight, the yen was supported by the Bank of Japan= 's decision to increase its purchases of government bonds to 1 trillion yen= per month from the current 800 billion yen. The central bank's action will= help to improve the availability of credit ahead of the fiscal year end in= March, although it may weaken the yen in the long run because of the rise = in liquidity. Nevertheless, the Japanese currency is likely to depreciate i= n light of Japan's economic quandary and the government's half-hearted atte= mpt to resolve the floundering economy, evidenced in the anti-deflation pac= kage released this week that markets for the most part deem ineffectual. Ha= yami had clearly indicated his desire that the government would inject fund= s into the ailing banking sector, but it remains to be seen whether the gov= ernment will follow up its rhetoric with concrete acts or if their words wi= ll be nothing more than empty promises. Support holds at 133.20 and 133.0. = Resistance is eyed at 134.0, 134.40 and 134.80. US preliminary Q4 GDP ove= rshot forecasts as it surged to 1.4% q/q from the previous 0.2%, posting it= s largest gain since Q4 '00. Meanwhile, US Q4 Final Sales climbed to 3.6% f= rom the previous 2.5%. Among the reasons for the better-than-expected growt= h figures were significant gains in private and public spending. The greenb= ack also cheered the release of the Chicago PMI that broke above the key 50= -level into expansionary territory for the first time in 18 months to 53.1 = in February from the previous month's 45.1. EUR/USD is trading around 86.= 80 despite being weighed in European trading by the rise in Eurozone HICP t= o 2.7% y/y in January from the previous 2.5%. The figures prompted economis= ts to expect the European Central Bank will not ease monetary policy when i= t meets next week, especially after yesterday's data showed that Eurozone M= 3 climbed to 8%. The single currency also was lifted by the news that Euroz= one consumer prices are estimated to have fallen to 2.5% y/y in February co= mpared with the previous 2.7%. German Chancellor Schroeder urged that Germa= n wage deals must be economically sensible, noting that a long standoff ove= r wages or strikes would be "more than problematic" for recovery. Upside ca= pped at 87.0, 87.40 and 87.80. Support is seen at 86.0, 85.50 and 85.0. F= X traders now await tomorrow's releases of manufacturing and consumer senti= ment data for confirmation of the beginning of a turnaround in the US econo= my. Economists project that the ISM (formerly NAPM) purchasing managers sur= vey for manufacturing will break above the key 50-level for the first time = since July 2000 to 50.9 in February from the previous 49.9, confirming toda= y's dramatic improvement in the Chicago PMI. As well, markets will assess t= he final February reading of the University of Michigan Sentiment survey th= at is expected to edge up to 91.2 in February from the preliminary estimate= of 90.9, but fall compared with the previous month's 93.0. =09[IMAGE] A= udio Mkt. Analysis USD Tempered by Greenspan's Cautiousness Articles = & Ideas Koizumi Fails To Deliver Goodbye Hope, Sayonara Yen Artic= les & Ideas Forex Glossary Economic Indicators Forex Guides Link Libr= ary [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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