未来日元走势的判断

What is concerning is if you look at what the forecast is, what the large manufacturers, the big market companies here in Japan, Toyotas,Panasonics,Canons. What they think about the fourth quarter is that they're negative. They're showing in December of 2010, the forecast is a minus one, it will be the very first time that the forecast is gonna show a negative territorial dip since 2008 showing that diffusion index is indeed worsening.

OK, so, what is driving this sentiment? Well, while we can't ask every single large manufacturer, we can look at what's happening here in the economy that is going to be hurting that sentiment. It is namely the strong Yen and the strong Yen we've seen the Bank of Japan injecting cash, trying to intervene in just last a few weeks or so, and now the concern is, is that with this TongKang survey, this forward economic indicator saying that large companies are looking at the fourth quater where the sentiment is going to worsen. The question is that will policy makers then want to intervene again. So, these are some of the big issues of the macroeconomic issues that the bank of Japan is gonna have to deal with but as far as snapshot of what the those large enterprises are thinking. Right now they do show their growth is continuing in the country of Japan. But as far as sentiment looking forward, they're concerned about that fourth quarter.