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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (14883)	11/4/2004 10:25:42 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Russ, I hope you are sitting down. If not, please do so..... Tanigaki - Japan monitoring forex market, may take ´appropriate action´- Kyodo Friday, November 5, 2004 3:11:08 AM afxpress.com Tanigaki - Japan monitoring forex market, may take 'appropriate action'- Kyodo TOKYO (AFX) - Finance Minister Sadakazu Tanigaki said Japanese monetary authorities are closely monitoring foreign exchange rates, indicating that they are ready to step into the currency market to stem appreciation of the yen if they consider it necessary, Kyodo News reported At a regular Friday morning news conference, Tanigaki said that if foreign exchange rates are judged not to be moving in line with economic fundamentals, Japan will "take appropriate action at an appropriate time," Kyodo reported. In New York trading overnight, the dollar fell briefly to 105.69 yen, its lowest level there since mid-April Many currency analysts view the 105-yen level as a tripwire for Japanese government market intervention, as many companies have used that exchange rate when preparing their financial projections for the current business year to March 2005 The Japanese government has not intervened in the currency market since mid-March, after spending a record 35 trln yen over the previous 15 months in a bid to halt the yen's appreciation against the dollar The Japanese government and business community become concerned whenever the yen appreciates steadily against the dollar, fearing this could cause a drop in exports, the driving force behind Japan's current economic recovery

To: russwinter who wrote (14883)	11/4/2004 10:30:23 PM
From: mishedlo	Respond to of 116555

Japan Oct imported car sales down 15.8 pct yr-on-yr - automobile assn Friday, November 5, 2004 2:15:04 AM afxpress.com TOKYO (AFX) - Imported vehicle sales in Japan fell 15.8 pct in October from a year earlier to 17,701 units, figures released by the Japan Automobile Importers Association show "Two less operating days than a year earlier may have affected the drop in sales as well as the diminished appeal of Toyota's Avensis sedan as a new model," said an official at the association Some 15,789 of the imported vehicles were produced by foreign automakers, down 7.7 pct from a year earlier. The other 1,912 vehicles were made by Japanese automakers overseas, down 51.3 pct About 7.34 pct of the imports sold last month were made overseas by Toyota Motor Corp. Sales of foreign-made Toyota-brand vehicles dropped by 49.6 pct to 1,229. Sales of foreign-made Honda brand vehicles, which accounted for 3.54 pct of the imports sold last month, were similarly down, by 53.6 pct from a year earlier to 627 vehicles Three German manufacturers maintained the top three positions Volkswagen was the top selling brand with a 21.17 pct market share, with its sales falling 13.9 pct from a year earlier to 3,748 vehicles Mercedes-Benz was second with a 14.04 pct market share, and its sales fell 2.5 pct from a year earlier to 2,485 vehicles BMW was the third best-selling brand with 12.57 pct market share and its sales increased 3.7 pct from a year earlier to 2,225 vehicles

To: russwinter who wrote (14883)	11/4/2004 10:38:37 PM
From: mishedlo	Respond to of 116555

Marked Deceleration In Productivity Productivity of the U.S. economy grew at an annual rate of 1.9% in the third quarter, after a 3.9% increase in the second quarter. The third quarter reading of productivity is the lowest since the fourth quarter of 2002. northerntrust.com ======================== Northern trust estimates tomorrows payroll number at 160,000 Citycorp said 325,000 Let's see who wins Mish

To: russwinter who wrote (14883)	11/4/2004 11:14:04 PM
From: mishedlo	Respond to of 116555

GM Shoots For Record! GM just recalled 1.23 million vehicles bringing the US recall total to 24.8 million for the year. This smashed the old record of 23.6M in 2000 and sets our sites within spitting distance of 25M worldwide with nearly two full months left in 2004. Well done GM!!! Mish

To: russwinter who wrote (14883)	11/5/2004 12:39:19 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Japan Sept household spending down real 1.0 pct yr-on-yr, 2nd drop in 4 months Friday, November 5, 2004 5:25:39 AM afxpress.com TOKYO (AFX) - Household spending in Japan fell a real 1.0 pct in September from a year earlier, the second decline in four months, the Ministry of Public Management said. Compared to the previous month, spending fell a seasonally adjusted 1.9 pct On a nominal basis, overall household spending in September fell 0.9 pct from a year earlier. Household spending averaged 287,624 yen in September Last Friday the government reported that spending in September by households headed by salaried workers rose a real 0.3 pct year-on-year. Households headed by salaried workers, as opposed to those headed by the self-employed, pensioners or the unemployed, account for about 60 pct of total household spending in Japan