[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 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 Japan 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 yen as investors still find the US as the most attractive place to invest, despite 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 11. The yen is likely to be further undermined vs. the dollar on Monday trading after Ministry of Economy, Trade and Industry showed that September industrial output fell 2.9% from a month earlier, worse than the markets forecasts of 2.5% drop. The ministry noted that industrial output continues to be on a declining trend. Future movements about the outlook for final demand will be highly scrutinized. Analysts believe the July-September GDP will contract for the second straight quarter to bring the Japanese economy into a recession, following the decline in April-June GDP to -0.8%. Government officials said they were in the midst of compiling lowered economic forecasts 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 Monday, but is unlikely to take action as it waits for the government to implement structural reforms to salvage the recession-bound economy. The Nikon Keizai Shimbun noted that more consumers are spending less as the economy worsens and unemployment rises bringing the index to its lowest level since 1991.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 services is one of the key reforms initiated by PM Koizumi. The ruling LDP candidates won the House of Representatives by elections in Miagi and Shiga prefectures on Sunday, helping the ruling party recuperate its simple majority 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 Friday'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 revised 6.5%. The Bank of France's Trichet expressed his confidence the euro would appreciate. Analysts believe that the ECB's reluctance to ease monetary policy even in the face of an economic downturn is likely to put the euro under considerable selling pressure and see $0.8850 as major support.  However, statements from ECB officials would seem to suggest the bank is mulling over a rate cut in the future, particularly as price pressures continue to subside, and new evidence confirms the deteriorating economic performance of the Eurozone. German Chancellor Schroeder said Friday, we must do everything 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 Conference Board Consumer Confidence survey, Real GDP, Chicago Purchasing Managers Survey, personal income and consumption, National Purchasing Managers Survey, and the labor market report. From the Eurozone, economic highlights include France's INSEE industry survey, PPI, CPI, French unemployment, and Euroarea PMI.    	[IMAGE] Audio Mkt. Analysis GBP Ralies, JPY Falters       Articles & Ideas  Speculative Flows Point to Further Euro Losses   ECB KEEPS RATES UNCHANGED AT 3.75%       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE] 	
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