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Forex Trading StrategiesUSDJPY breaks 116.80 support in Asia
BOJ's Fukui appeared today before the Lower House Committee and continued his hawkish comments and the positive tone surrounding the Japanese economy
MAJOR HEADLINES â€“ PREVIOUS SESSION
â€˘ US intial jobless claims falls to 278k vs 300k expected.
â€˘ Australia house price increase to 2.1% for Q4 vs 0.8% expected.
â€˘ Fukui was quoted saying "cannot always fear when conducting policy". Fukui also mentioned that policy decesion will only be determined by CPI, but also economic indicators behind CPI.
â€˘ An Attorney from the Bush administration said yesterday that the period for China to live up to its commercial obligations has come to an end and that the US is prepared to take more formal action this year.
THEMES TO WATCH â€“ UPCOMING SESSION
â€˘ 9.30am UK GMT GDP (QoQ) for 4Q expected at 0.6% increasing frrom the +0.4% in the previous period.
â€˘ 9.30am UK Government Spending figures for 4Q to be released and expected to show an increase of 0.6%
â€˘ 9.30am UK Private Consumption figures for 4Q to show a 0.7% pickup higher than the 0.5% previously.
â€˘ 9.30am UK Exports data expected at +1.4% while Imports expected at +1.0% for 4Q.
â€˘ 1.30pm USA Durable Goods Orders for January expected to have dropped 2.0% which is lower than the previous period's +1.8%.
â€˘ 1.30pm USA Durable Ex Transportation for Jan expected at +0.5%.
Note: the support/resistance levels used in the matrixâ€™s of this document are levels derived from yesterday high, low and close. Reference in the text to other support/resistance levels will occur.
24 Feb 06
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