[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:   2.0%  0.15%  3.25%  4.0%  1.75-2.75%       [IMAGE] 	 [IMAGE]  Japanese Forex Trading Preview  November 20, 7:00 PM: EUR/$..0.8832 $/JPY..122.62 GBP/$..1.4197 $/CHF..1.6483  Japanese Forex Trading Preview by Darko Pavlovic  At 6:50:00 AM Japan Sept Index of Tertiary sector activity (exp -0.5, prev -0.1)  The euro rose to a session high of $0.8842 vs. the dollar, as the dealers sold the greenback on profit-taking ahead of the Thanksgiving holiday on Thursday. The single currency was boosted overnight as Chinese officials confirmed it would increase its allocation of euros in its foreign currency reserves. Vice Governor of the People's Bank of China Guo Shuqing said China had purchased euros in the last two months and would continue its buying. Dealers speculated that China would shift possible 10% of its reserves into the euro, in a move that would translate to around 20 billion euros. Markets await tomorrow's release of the German Ifo Business climate index that estimates German growth, which accounts for about one-third of the total Eurozone. Economists forecast the Ifo will remain unchanged at 85 in November after plunging to that level in October from 89.5. Disappointing results will most likely spark renewed selling in the euro. Traders are also on edge ahead of Thursday's Euroarea GDP figures for Q3, which are seen to edge up to 0.2% from the previous quarter's 0.1%, as Italy posted a slight increase in GDP growth. However, France and Germany are both expected to show stagnant growth at 0.3% and 0.0% in Q3. The EU Commission forecasted Eurozone GDP at 1.6% in 2001 and at 1.3% in 2002. French Finance Minister Fabius was more optimistic in his outlook, anticipating French growth around 2% this year. Support is viewed at the 88.0-cent figure, backed by 87.80 and 87.40. Resistance is seen at 88.55, 88.75 and 89.10.  The yen recovered to 122.54 vs. the dollar, as the greenback slipped from three-month highs around 123.52 yen. Japan July- September economic activity fell 1.7% from the previous quarter and Japan July- September tertiary sector index fell 1% on quarter. In September the all industries index down 0.8% from the previous month, and tertiary sector index fell 0.9%. The deterioration in Japanese spending has negatively impacted manufacturing production, corporate profit, capital spending, employment and income, and thus leads many economists to expect the July-September GDP will confirm the Japanese economy is in a recession. PM Koizumi wants to reform public corporations for highway construction. He showed determination in integrating and privatizing four highway construction entities and in eliminating the Housing Loan Corp. His proposal met a fierce opposition in some LDP lawmakers as construction of highways has always been a good investment for attracting more votes, but some lawmakers appear to seek a compromise behind the scene due to PM popularity. The Council on Economic and Fiscal Policy decided Tuesday that the government and the Bank of Japan would meet often to generate a synchronized anti-deflationary policy frame. By holding habitual talks, the panel aspires to produce an atmosphere that facilitates the government and the BOJ to direct in executing anti-deflationary policy measures. The Nihon Keizai Shimbun reported Tuesday that, a government deregulation panel would propose in a draft report due in December further deregulation of the job placement. A second supplementary budget for fiscal 2001 would focus on urban renewal. The government plans to decide the draw of the package on Nov. 30. A major obstacle for the government is how to raise the 2-3 trillion yen without exceeding the government's promise to keep new government bond issuance under 30 trillion yen. Japan's Center for Economic Research forecasted real July-September GDP  to have contracted 0.3%, or 1.4% annualized, from the previous quarter, for the second consecutive quarter of decline. The OECD forecasted Japanese economy will contract until 2003 and the recession could get deeper if the government does not fully implement bad loans disposal.  Senior officials of the ruling LDP asked Koizumi to take their views into consideration when deciding policies. Support is viewed at 122.50, 122.20 and 122.0. Upside capped at 123.25, 123.50 and 123.85.  This week's remaining major economic indicator from the US is the University of Michigan Consumer Sentiment Survey that likely slipped to 83.0 in the final November reading from the preliminary 83.5 as layoff announcements offset any gains from improved sentiment arising from the military success in Afghanistan and hopes for an economic recovery. From the Eurozone, economic highlights include German CPI, German Ifo business climate index, German GDP, German PPI, German import prices, French GDP, and Italy's ISAE business confidence survey. Japanese data due for release are the trade balance and the index of tertiary sector activity. Economic releases from the UK comprise the CBI Industrial Trends Survey and Q3 GDP.    	[IMAGE] Audio Mkt. Analysis USD Hits Fresh Multi-month highs vs EUR, JPY, GBP       Articles & Ideas  USD/JPY: The Next Level   OPEC: The beginning of a price war?       Articles & Ideas Forex Glossary   Economic Indicators   Forex Guides   Link Library      [IMAGE] 	
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