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Date Posted: 07:41:36 04/01/03 Tue
Author: Naval Vithalani
Subject: Update

TANKAN was pre war....the actual effect of the war will be knw later...so TANKAN` expected to decline further the next time around....continuing the same views...on euro, yen, gold....

UK CIPS expected at 48.4
EU PMI expected at 49.5
GE PMI expected at 49
FR PMI expected at 50.5
FR Consumer Confidence expected at (27)

euro we might see some 20/30p weakness in early europe..but later 0950s+ n in the week a move to 1.10.

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