[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:   1.75%  0.15%  3.25%  4.0%  1.25-2.25%       [IMAGE] 	 [IMAGE]  Japanese Forex Trading Preview  February 24, 7:00 PM: EUR/$..0.8751 $/JPY..134.03 GBP/$..1.4316 $/CHF..1.6896  Japanese Forex Trading Preview  by Darko Pavlovic  At  6:50:00 PM Japan  Jan Trade Balance  (exp n/f, prev 661.3 bln)     The dollar is trading above 134 yen, as markets wait for Japan's anti deflation program due out on Wednesday that could bring some hope to already ailing economy. Due also this week is Bank of Japan's Policy Board meeting on Thursday and US Fed Chairman Greenspan's bi annual speech before Congress on Wednesday. Prime Minister Koizumi is expected to announce his plans to fight deflation on Wednesday, and measures include proposals for the Bank of Japan to add foreign bonds and exchange-traded investment funds to its list of assets for purchase as well as increasing the amount of government bonds it purchases outright.. Should the reform package disappoint markets, the yen is likely to come under renewed downward pressure. It also urged the Resolution and Collection Corp. to increase its purchase of problem loans from banks, calling on the body to draw on the expertise of specialists in the area of corporate rehabilitation and debt appraisal. The RCC needs to upgrade it operations, which now focus too heavily on minimizing possible losses on the loans it acquires, according to the panel. Japan January customs cleared trade balance turned to a surplus of 1881. bln yen after registering a deficit of 95.7 bln yen a year earlier. Japan's surplus with the US, its largest trading partner rose 14.9% y/y to 524.8 bln yen, for the first time in 10 months.Upside capped at 134.50, followed by 134.85 and 135.15. Support holds at 133.20, 133.and132.50.   EUR/USD is trading around 87.50 rising on Friday's better-than-expected Eurozone current account surplus of 2.9 bln euros in December that brought the c/a deficit down to 9.3 bln euros in 2001 from 70.1 bln in 2000. The gain in the current account surplus was offset by a fall in portfolio investment of 11.1 bln euros in December, even though net portfolio flows reached a 40.9 bln euro inflow versus a 102.8 bln outflow in 2000. In a recent Reuters survey, economists forecasted that although Eurozone inflation would fall in February, it would still be above the European Central Bank's 2% ceiling and thus lessen the chances the ECB would lower rates at its next monetary policy meeting on March 7. Eurozone HICP, which is due this Thursday, is estimated to edge down to 2.4% y/y from 2.5% in January. Eventually, analysts foresee the central bank will cut rates when inflation falls lower, possibly by the second quarter of this year. Resistance is seen at 87.85, 88.10 and the 200-day moving average at 88.50. Support is viewed at 86.80, 86.45/50 and 86.10.  Looking forward to this week, key US indicators include existing home sales, Conference Board Consumer Confidence survey, durable goods, new home sales, jobless claims, GDP, Chicago Purchasing Managers Index, personal income and consumption, University of Michigan confidence survey, ISM (formerly NAPM) PMI. In the midst of all the economic releases, markets will be carefully listening to Fed Chairman Greenspan's semi-annual monetary policy testimony before the House Financial Services Committee on Wednesday for any hint that the central bank may begin to raise interest rates sometime this year. Major data due for release from the Eurozone comprise German PPI, Spanish PPI, German Ifo business climate indicator, French CPI, Italian foreign trade, Euroarea M3, German GDP, French INSEE industry survey, French PPI, Italian retail sales, Belgian CPI, Euroarea HICP, French unemployment, Italy's ISAE industrial confidence survey, Italian PPI, Euroarea manufacturing PMI, Euroarea retail sales, German manufacturing PMI, French manufacturing PMI, France's INSEE household survey, Italian manufacturing PMI, Italian CPI, Italian GDP, and Spanish unemployment.    	[IMAGE] Audio Mkt. Analysis USD Holds Steady Despite Drop in Stocks       Articles & Ideas  Off Goes the Franc, On Comes Jospin   JPY: Japan's Reform Dilemma       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE] 	
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