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LONDON (Thomson Financial) - Housing price growth slowed in February, confirming that a correction in property market values is underway, government figures released Tuesday show.

The Department of Communities and Local Government said the annual rate of house price inflation in February was 6.7 percent, down from 8.0 percent in January.

The average house price in the United Kingdom fell to 217,737 pounds in February from 221,278 in January.

In London, annual house price inflation was 9.5 percent, down sharply from 13.8 percent in January.

The government data, based on completed property sales, lags behind surveys from industry groups like Nationwide, Halifax and the Royal Institution of Chartered Surveyors.

The RICS said Tuesday morning that the balance of agents reporting lower house prices in March has fallen to its worst level in thirty years.

carlo.piovano@thomson.com

USD/JPY - 101.25…The greenback faltered below this month’s high at 102.95
last week n nose-dived to 100.03 (Thursday’s low) on dlr-negative comments fm
Fed officials n also the IMF’s bearish outlook on the U.S. economy) b4 staging a
strg bounce to 102.28, however dlr retreated again on Friday to 100.64.

Dlr has opened higher this morning following the weekend’s comments fm the
G7 (warning against excessive fluctuations in currencies) n price hit an intra-
day high of 101.97 b4 retreating, suggesting further ‘choppy’ trading below
aforesaid res at 102.95 is in store, break of 100.64 wud bring re-test of 100.03
but below latter sup is needed to yield stronger retracement of recent upmove fm
95.77 (March ‘08 low) to 99.36 (50% r of 95.77-102.95 n equality proj. of 102.95
-100.03 fm 102.28) n then later twds pivotal sup at 98.56.

On the upside, abv 102.28 wud indicate the pullback fm 102.95 has ended
instead n yield another rise to 102.95, break wud confirm upmove fm 95.77 to
correct MT downtrend has resumed n further headway to 103.60/62 (res n 50% proj.
of 95.77-102.95 fm 100.03) n then 104.47 (61.8% proj.) wud follow…

Apr 15, 2008
At Time : (time are in GMT+7 or Indonesia Jakarta Time (WIB))
15:00 GBP/USD up (Buy)
19:00 GBP/USD down (Sell)

Tuesday April 15, 2008     
     
EUR-USD    
Corrective dips should ideally halt near 1.5796 or 1.5752 for one more thrust upwards towards 1.5859 - 1.5922 area or 1.6011 in extention. Fall below 1.5707 puts it back on a downward path.    
     
GBP-USD    
Strength can extend to 1.9840 or even higher than 1.9901 as declines are expected to find support at 1.9720 or 1.9661. Stop Loss below 1.9538 zone.    
     
USD-JPY    
It should test 101.49 area after which a sell off down to 100.43 or extended to 99.76 area is expected.    
     
USD-CHF    
It is likely to fall towards 0.9917 as its corrective rally could falter in 1.0032 - 0.9997 area. Stop above 1.0067 zone.