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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: 2.0% 0.15% 3.2= 5% 4.0% 1.75-2.75% [IMAGE] =09 [IMAGE] Japanese Forex Trading Prev= iew November 20, 7:00 PM: EUR/$..0.8832 $/JPY..122.62 GBP/$..1.4197 $/CHF.= .1.6483 Japanese Forex Trading Preview by Darko Pavlovic At 6:50:00 AM Ja= pan Sept Index of Tertiary sector activity (exp -0.5, prev -0.1) The euro = rose to a session high of $0.8842 vs. the dollar, as the dealers sold the g= reenback on profit-taking ahead of the Thanksgiving holiday on Thursday. Th= e single currency was boosted overnight as Chinese officials confirmed it w= ould increase its allocation of euros in its foreign currency reserves. Vic= e Governor of the People's Bank of China Guo Shuqing said China had purchas= ed euros in the last two months and would continue its buying. Dealers spec= ulated that China would shift possible 10% of its reserves into the euro, i= n a move that would translate to around 20 billion euros. Markets await tom= orrow's release of the German Ifo Business climate index that estimates Ger= man growth, which accounts for about one-third of the total Eurozone. Econo= mists forecast the Ifo will remain unchanged at 85 in November after plungi= ng to that level in October from 89.5. Disappointing results will most like= ly spark renewed selling in the euro. Traders are also on edge ahead of Thu= rsday's Euroarea GDP figures for Q3, which are seen to edge up to 0.2% from= the previous quarter's 0.1%, as Italy posted a slight increase in GDP grow= th. However, France and Germany are both expected to show stagnant growth a= t 0.3% and 0.0% in Q3. The EU Commission forecasted Eurozone GDP at 1.6% in= 2001 and at 1.3% in 2002. French Finance Minister Fabius was more optimist= ic in his outlook, anticipating French growth around 2% this year. Support = is viewed at the 88.0-cent figure, backed by 87.80 and 87.40. Resistance is= seen at 88.55, 88.75 and 89.10. The yen recovered to 122.54 vs. the dolla= r, as the greenback slipped from three-month highs around 123.52 yen. Japan= July- September economic activity fell 1.7% from the previous quarter and = Japan July- September tertiary sector index fell 1% on quarter. In Septembe= r the all industries index down 0.8% from the previous month, and tertiary = sector index fell 0.9%. The deterioration in Japanese spending has negative= ly impacted manufacturing production, corporate profit, capital spending, e= mployment and income, and thus leads many economists to expect the July-Sep= tember GDP will confirm the Japanese economy is in a recession. PM Koizumi = wants to reform public corporations for highway construction. He showed det= ermination in integrating and privatizing four highway construction entitie= s and in eliminating the Housing Loan Corp. His proposal met a fierce oppos= ition in some LDP lawmakers as construction of highways has always been a g= ood investment for attracting more votes, but some lawmakers appear to seek= a compromise behind the scene due to PM popularity. The Council on Economi= c and Fiscal Policy decided Tuesday that the government and the Bank of Jap= an would meet often to generate a synchronized anti-deflationary policy fra= me. By holding habitual talks, the panel aspires to produce an atmosphere t= hat facilitates the government and the BOJ to direct in executing anti-defl= ationary policy measures. The Nihon Keizai Shimbun reported Tuesday that, a= government deregulation panel would propose in a draft report due in Decem= ber further deregulation of the job placement. A second supplementary budge= t for fiscal 2001 would focus on urban renewal. The government plans to dec= ide the draw of the package on Nov. 30. A major obstacle for the government= is how to raise the 2-3 trillion yen without exceeding the government's pr= omise to keep new government bond issuance under 30 trillion yen. Japan's C= enter for Economic Research forecasted real July-September GDP to have con= tracted 0.3%, or 1.4% annualized, from the previous quarter, for the second= consecutive quarter of decline. The OECD forecasted Japanese economy will = contract until 2003 and the recession could get deeper if the government do= es not fully implement bad loans disposal. Senior officials of the ruling = LDP asked Koizumi to take their views into consideration when deciding poli= cies. Support is viewed at 122.50, 122.20 and 122.0. Upside capped at 123.2= 5, 123.50 and 123.85. This week's remaining major economic indicator from = the US is the University of Michigan Consumer Sentiment Survey that likely = slipped to 83.0 in the final November reading from the preliminary 83.5 as = layoff announcements offset any gains from improved sentiment arising from = the military success in Afghanistan and hopes for an economic recovery. Fro= m the Eurozone, economic highlights include German CPI, German Ifo business= climate index, German GDP, German PPI, German import prices, French GDP, a= nd Italy's ISAE business confidence survey. Japanese data due for release a= re the trade balance and the index of tertiary sector activity. Economic re= leases from the UK comprise the CBI Industrial Trends Survey and Q3 GDP. = =09[IMAGE] Audio Mkt. Analysis USD Hits Fresh Multi-month highs vs EUR, JP= Y, GBP Articles & Ideas USD/JPY: The Next Level OPEC: The beginnin= g of a price war? Articles & Ideas Forex Glossary Economic Indicato= rs 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 . =09
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