|
|
Enron Mail |
[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: 2.5% 0.15% 3.7= 5% 4.5% 1.75-2.75% [IMAGE] =09 [IMAGE] Japanese Forex Trading Prev= iew October 28, 7:00 PM: EUR/$..0.8925 $/JPY..122.76 GBP/$..1.4372 $/CHF..= 1.6526 Japanese Forex Trading Preview by Darko Pavlovic At 6:50:00 PM Jap= an Sept Ind Production m/m (exp -2.3%, prev 0.8%) Japan Sept Ind Prod y/y (= exp -11.9%, prev -11.7%) The dollar is holding against the euro and the y= en as investors still find the US as the most attractive place to invest, d= espite last month attacks and ongoing war against terrorism. The dollar has= gained 4.4% vs. the single currency and 6.2% vs. the yen since September 1= 1. The yen is likely to be further undermined vs. the dollar on Monday trad= ing after Ministry of Economy, Trade and Industry showed that September ind= ustrial output fell 2.9% from a month earlier, worse than the markets forec= asts of 2.5% drop. The ministry noted that industrial output continues to b= e on a declining trend. Future movements about the outlook for final demand= will be highly scrutinized. Analysts believe the July-September GDP will c= ontract for the second straight quarter to bring the Japanese economy into = a recession, following the decline in April-June GDP to -0.8%. Government o= fficials said they were in the midst of compiling lowered economic forecast= s to reflect the global downturn worsened by last month's terrorist attacks= . The Bank of Japan will meet for a regular policy-setting meeting on Monda= y, but is unlikely to take action as it waits for the government to impleme= nt structural reforms to salvage the recession-bound economy. The Nikon Kei= zai Shimbun noted that more consumers are spending less as the economy wors= ens and unemployment rises bringing the index to its lowest level since 199= 1.The government is plans to open the mailing service to private businesses= in a step-by-step manner in fiscal 2003. The privatization of the postal s= ervices is one of the key reforms initiated by PM Koizumi. The ruling LDP c= andidates won the House of Representatives by elections in Miagi and Shiga = prefectures on Sunday, helping the ruling party recuperate its simple major= ity in the 480 seat lower house, which lose in a general election last year= . Support stands at 122.60, 122.32 and 122.0. Resistance is eyed at 123.35,= 123.65 and 123.90. The euro is trading around $0.8930 undermined from Fr= iday's release of Eurozone M3 data, which skyrocketed to 7.6% in September = from 6.7%. The 3-month moving average also rose to 6.9% from the previous r= evised 6.5%. The Bank of France's Trichet expressed his confidence the euro= would appreciate. Analysts believe that the ECB's reluctance to ease monet= ary policy even in the face of an economic downturn is likely to put the eu= ro under considerable selling pressure and see $0.8850 as major support. H= owever, statements from ECB officials would seem to suggest the bank is mul= ling over a rate cut in the future, particularly as price pressures continu= e to subside, and new evidence confirms the deteriorating economic performa= nce of the Eurozone. German Chancellor Schroeder said Friday, we must do ev= erything possible to encourage investment that will create jobs. Support is= viewed at the 89.0-cent figure, followed by 88.50 and 88.20. Upside capped= at 89.50, 89.80 and 90.10. This week the key US indicators are the Confe= rence Board Consumer Confidence survey, Real GDP, Chicago Purchasing Manage= rs Survey, personal income and consumption, National Purchasing Managers Su= rvey, and the labor market report. From the Eurozone, economic highlights i= nclude France's INSEE industry survey, PPI, CPI, French unemployment, and E= uroarea PMI. =09[IMAGE] Audio Mkt. Analysis GBP Ralies, JPY Falters = Articles & Ideas Speculative Flows Point to Further Euro Losses ECB KE= EPS RATES UNCHANGED AT 3.75% Articles & Ideas Forex Glossary Econom= ic 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
|