Japanese Preview

[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 26, 7:00 PM: EUR/$..0.8805 $/JPY..124.04 GBP/$..1.4125 $/CHF.=
.1.6636 Japanese Forex Trading Preview by Darko Pavlovic No key data. =
The dollar fell against the euro after posting three week of profits, under=
mined on announcement from National Board of Economic Research that the US =
has been in a recession since March of this year for the first time in a de=
cade. The NBER official noted the US economic slowdown was exacerbated by t=
he September 11 attacks, but anticipates a recovery by July 2002 due to ext=
rapolation of historical data The statement from ECB's Quaden that Eurozone=
growth is close to stagnation also boosted the single currency. ECB member=
and Belgian Central Bank head Guy Quaden reiterated his stance that inflat=
ion is low and will continue to decline. Markets expect a further fall in t=
he euro after Thursday's release of Euroarea GDP that will likely show flat=
growth of 0.1% in Q3, particularly after German Finance Minister advisers =
commented that German growth had slowed to a standstill. In addition, the e=
uro is likely to be weighed this week by the changes in the MSCI indices th=
at will spur outflows from European stocks by global portfolio managers. Fu=
rthermore, forecasted declines in both Italian consumer and French business=
confidence and a rise in French unemployment will exert more downward pres=
sure on the single currency this week. Resistance is seen at 88.35, 88.60 a=
nd 89.10. Support is eyed at 87.60, 87.20 and 87.0- the key support determi=
ned by the downward channel between the 87.71 low on November 14 and the 87=
.35 low on November 23. The dollar is holding around 124 yen, after ratin=
gs agency Standard & Poor's announced it was considering downgrading Japan'=
s AA+ sovereign debt by two notches, following Fitch's downgrade of Japanes=
e government debt. Finance Minister Shiokawa said he had no indication from=
the Bank of Japan that they would buy foreign bonds as part of its monetar=
y policy operations in response to an article last week in the Financial Ti=
mes that the US would be tolerant of the BoJ's buying US bonds. Japan's 13 =
major banks are likely accumulate 6.26 trln yen in losses from bad-loan dis=
posal for the fiscal year ending March 2002, more than three times as much =
as projected in May, according to earnings reports released through Monday.=
Prime Minister Koizumi asked Finance Minister Masajuro Shiokawa on Monday =
to re-examine his decision to delay the April 2002 start of a combined tax-=
filing system for corporate groups. "I would like you to reconsider it beca=
use business leaders are seeking early implementation," Koizumi told Shioka=
wa at a meeting of the Council on Economic and Fiscal Policy. The Nihon Kei=
zai Shimbun reported that pubic support for the ruling Liberal Democratic P=
arty remains at strong 49%, down two percentage points from two months ago.=
The Nov. 23-25 survey from Nihon Shimbun showed that 78% of respondents su=
pport Koizumi, down one percentage point from September, and 14% do not sup=
port him, two points more than two months ago.A report by the Japan Researc=
h Institute showed that Japan's current account and trade surplus could shr=
ink to zero as early as 2004 due to the transfer of production overseas and=
increased imports from Asia Upside capped at 124.50, 125.0 and 125.30. Sup=
port is seen at 123.80, 123.50 and 123.20 This week's remaining key US ind=
icators include existing and new home sales, jobless claims, durable goods,=
real GDP and the Chicago Purchasing Managers survey. Fed Governor Meyer an=
d St. Louis Fed President Poole will speak tomorrow, followed by Chicago Fe=
d President Moskow on Wednesday. From the Eurozone, economic highlights con=
sist of the ISAE Consumer Confidence survey, Italian retail sales, Euroarea=
M3, Euroarea GDP, France's INSEE industry survey, Italian CPI, Euroarea HI=
CP, French unemployment rate, French PPI, Italian PPI and Spanish PPI. The =
main piece of data due for release from the UK will be the Gfk Consumer Con=
fidence survey. Major Japanese indicators comprise industrial production, l=
abor force survey, household survey of expenditures, consumer prices and ho=
using starts. =09[IMAGE] Audio Mkt. Analysis Dollar Retreats Modestly Ah=
ead of Busy Week Articles & Ideas Sideways Action, Then Weaker Euro =
Ahead USD/JPY: The Next Level Articles & Ideas Forex Glossary Eco=
nomic 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 . =09