[IMAGE] Forums Discuss these points in the Forums:  Forexnews Forum       Technicals 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%  3.75%  4.5%  1.75-2.75%       [IMAGE] 	 [IMAGE]  Japanese Forex Trading Preview  October 21, 7:00 PM: EUR/$..0.8984 $/JPY..121.25 GBP/$..1.4328 $/CHF..1.6423  Japanese Forex Trading Preview by Darko Pavlovic  At 7:50:00 PM Japan August Tertiary Ind Prel  (exp n/f, prev -0.9) Japan Sept all industry index (exp n/f, prev -1.2)   The single currency fell on Friday to a fresh 5 week low vs. the dollar and a new 3-week low vs. the yen after German September IFO survey sank to a 8-year low of 85.0, as confidence in biggest European country weakened after September 11 and uncertainty abut the Eurozone growth. Bundesbank President Welteke commented that Germany would need a "lot of luck" to achieve the government's official growth forecast of 0.75% this year, but denied Germany would post negative growth and enter a recession. As economic growth in the Europe continues to slowdown everyone is looking at the ECB to  take a more proactive role in stimulating growth by cutting interest rates. Despite the ECB's inclination to ostensibly prioritize price stability over growth, remarks by ECB president Duisenberg echoing those of the EU leaders that there is room to maneuver policy should inflation fall sooner than expected would seem to suggest the ECB is flexible and may indeed slash rates by the end of the year, as many analysts anticipate. However, Duisenberg maintained his mantra that inflation will likely fall below 2% possibly early next year. A Reuters poll conducted yesterday showed that 27 out of 50 economists believe the ECB will hold rates steady, 21 expect a rate cut and 2 are undecided. Support is seen at the 200-day moving average of 89.50, followed by 89.0 and 88.55. Resistance is seen at 90.15, 90.35 and 90.65.  The yen is almost unchanged from Friday's closing vs. the dollar after advancing against the euro to a 3-week high of 108.88, due to poor German IFO survey. Japanese Finance Minister Shiokawa proposed an extra budget of 3 trillion yen, out of which 1.68 trillion yen will be financed by government bonds. Finally, Koizumi declared that the structural reforms must proceed whether GDP is plus or minus. Economic Minister Takenaka said that redenomination of yen could be one of the methods to revive the economy. Takenaka is hoping to put the issue on the agenda for structural economic reform planned for fiscal 2002. Tokyo think tank predicted that Japan unemployment could rise to over 6% in the next fiscal year after jobless rate hit record of 5% in July and August.  USD/JPY support is seen at 120.65, 120.20 and 120.0. Resistance is eyed at 121.50 and 121.80. Leaders of Asia Pacific Economic Cooperation finished their 2 day summit on Sunday condemning terrorism and promising to boost the global economy hit by prolonged slowdown and September 11 attacks.   Looking ahead to next week, the major indicators from the US include the Index of Leading Indicators, the Employee Cost Index, durable goods, existing and new home sales, and the University of Michigan Confidence Survey. From the Eurozone, key data due for release are German CPI and PPI, Italian Industrial Orders, Italian CPI, ISAE Industrial and Consumer Confidence Survey, French CPI, Italian Foreign trade, Euroarea M3 data and foreign trade. Markets await the ECB rate announcement on Thursday October 25, even though the central bank is unlikely to ease monetary policy next week.    	[IMAGE] Audio Mkt. Analysis Euro Crawls Up In Quiet Trading       Articles & Ideas  EURO: German IFO Will Remind ECB to Build Growth    Dollar Comeback Stopped by Risk of Terrorism       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE] 	
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