[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 January 10, 7:00 PM: EUR/$..0.8920 $/JPY..132.12 GBP/$..1.4391 $/CHF..1.6607   Japanese Forex Trading Preview by Darko Pavlovic  At 6:50:00 PM Japan Dec Bank Lending (exp n/f, prev n/a) Japan Dec WPI (exp n/f, prev n/a) Japan Dec Money Supply (exp n/f, prev n/a)  The yen rose vs. the dollar for the first time in four days after Japanese Finance Minister Shiokawa warned that the yen's fall is  a little too rapid  and US National Association of Manufactures complained the weakening Japanese currency hurt their exports. Furthermore, the manufacturers' group declared its desire to meet with the US Treasury next week to discuss the dollar's strength, since they believe it is hindering an economic recovery. The yen's depreciation has raised objections from other Asian nations concerned it will hurt growth by crimping their exports. December domestic wholesale price index remained unchanged from last month. The index is down 1.4% from a y/y for the 15th consecutive month of year on year decline. December M2+CD  rose 3.4% from a year earlier.Prime Minister Koizumi also added to the brouhaha about the yen's exchange rate by saying that Japan was not deliberately weakening the yen, but instead, markets were determining what was an appropriate level. In response, Malaysian PM Mahathir said he was watching with interest the impact of the yen's fall on the Chinese yuan and ASEAN currencies. Koizumi is currently visiting Southeast Asia and is likely to encounter scrutiny from regional trading partners who are undoubtedly wondering how low the yen will drop and thus hurt their export competitiveness, and whether it would spark a round of devaluations. Ex-Japanese Minister of Finance Sakakibara, known as Mr. Yen, also said in the previous Asian session that he expect the yen might fall to 150-160 per dollar towards year-end. However, Sakakibara warned of possible intervention if the dollar rises above the psychological level of 140 yen. In reference to Bank of Japan policy, Sakakibara said the bank should keep easy monetary policy including more JGB purchases, but warned that excessive government spending would be ineffective and could lead to a collapse in the JGB market. Support is viewed at 132.0, 131.50 and 131.0. Resistance is eyed at 132.70, 133.0 and 133.40.   The euro is trading around 89.10 after German industrial production came weaker than expected but did not move the single currency considerable. Industrial production fell below forecasts to -1.6% in November from the previous month's -1.2%, or to -4.8% y/y in November from the previous -3.2%. Economists fear that weakness in Germany could weigh on Eurozone GDP, which was revised to 1.4% in Q3 from the previous 1.3%. However, growth in Q4 could tumble to 0%, thereby putting pressure on the European Central Bank to cut interest rates in February to spur an economic recovery in the European region. Support is seen at 89.0, backed by 88.80 and 88.60. Upside capped at 89.55, 89.80 and 90.0.  This week's remaining US indicator is PPI, which is forecasted to rise to -0.2% in December from the previous -0.6% but remain below zero for the third straight month as energy and food prices continue to decline. Core PPI is projected to edge down to 0.1% in December from 0.2% in November, in a reflection of how overall inflationary pressures remain mild.     Markets will pay careful attention to Fed Chairman Greenspan's speech tomorrow for any mention about the US outlook, as it will be his first speech on the economy since last October. Highlights from Japan consist of wholesale prices, money supply and the ESRI Tokyo consumer sentiment survey.     	[IMAGE] Audio Mkt. Analysis BoE inaction Lifts GBP, Comments Hurt CHF        Articles & Ideas  A Weak Yen Is the Solution for Now    What's Next For the Euro?       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE]  	
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