MORNING BRIEFING : The Pound rose above $ 1.6400.

[RTFX-Trading]

MORNING BRIEFING: The Pound rose above $ 1.6400.

What’s new :
England : upbeat report on the housing market.
Japan: consumer confidence worsened in December.
Euro area: The Euro-Group responsibilities are with Greece.
Germany: Bundesbank expects a slow economic recovery.
IMF: too quickly to end economic recovery plans.
France: The government raised its forecast for 2010 - growth at 1.4%.

Today:


Rates in Asia and Indices:
EURUSD: 1.4414 - 1.4380.
USDCHF: 1.0253 - 1.0230.
EURUSD: 1.6432 - 1.6334.
EURJPY: 130.71 - 129.99.
USDJPY: 90.79 - 90.35.
Dow Jones: closed.
NASDAQ: closed.
S & P 500: closed.
Nikkei: 10’764 -0.83%.
Shanghai: 3’257 +0.63%.
Gold: $1,136.
Crude oil: $78.19.

Comments:
The Pound Sterling is the winner of yesterday, rising to 1.6400 against the US Dollar, to 0.8766 against the Euro and to 1.6830 against the Swiss Franc. A study by Rightmove (the leading English real estate sales agency) on the UK housing refers to a solid recovery. Prices rose by 0.40% in January over one month and the annual rate in England and Wales is 4.10%. The Pound Sterling is also supported by France GDF Suez's 5 million GBP takeover bid for International Power, two active companies in the electricity sector.

The Euro against the Dollar remains under pressure as investors monitor the 200 day moving average at 1.4285. The next support is at 1.4120, which is the 38.2% retracement of the last increase from 1.2457 to 1.5144.

Have a good day.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
Fax: +356 21 41 24 58
Web: www.rtfx.com

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