Posted 13 hours ago: CHINESE GOLD REMARKS overnight helped drag the metal lower when the head of State Administration of Foreign Exchange said China faced constraints in adding gold holdings, considering it already holds 3000 tons. SAFE said the long term yield of holding was not good, dampening speculation that Beijing would buy the remaining 191 tons of gold on offer by the IMF. Whether these methods are a way to lower the price of gold with the intention of buying it later at more attractive prices remain to be seen. Golds failure to break 1140 gives way to 1105 as the next target, followed by 1087 viable this week. GBPUSD resumes its post-data damage, hitting the $1.4930 target in last IMT, but support standing at $1.4860. As yen stabilizes, NZDJPY and CADJPY appear most vulnerable of the yen crosses to lose their recent gains, eyeing 61.80 and 86.60. *** 3 DAYS REMAINING TO REGISTER FOR ASHRAF'S 1-DAY COURSE in LONDON *** Register here http://bit.ly/ bSHPbb - Mar 9 06:25

Posted 23 hours ago: MOODYs UK BANK ALERT: Moodys says in special report on UK banks that their extraordinary support obtained during the crisis is being gradually phased outm but does not add anything on the implications of this transition. GBPUSD nears $1.4980 target after February RICS figures on house prices tumble to 17 from 31 (lowest since Aug 09). With no key UK data in sight, the combination of negative UK positioning and possible profit-taking in Asian equities will be needed to break below $1.4980 and onto $1.4930. JPY stabilizes after Monday weakness as Asian stocks get in the red. GOLD CONFIRMS FAILURE AT 1140. Next downside target at 1112-13. - Mar 8 20:23

Posted yesterday: US Markets adrift in neutral territory as the risk appetite cannot build on Friday's gains. GBPUSD loses +170 pts to $1.5030s on a combination of profit-taking and dovish comments from BoE's Kate Barker indicating a bumpy path to recovery while allowing for the possibility of further quantitative easing. S&P500 testing the trend line resistance from the Jan 11 high at 1140. GBPUSD hovers at the $1.5070s level indicated in the prior IMT, but any renewed selling in Asia could send cable back down to $1.4980. Watch out for UK Feb RIC housing figures at 0:01 (exp 35 from 32) and BRC retail sales. Euros failure was at $1.37 (lower than anticipated resistance of $1.3770) before retreating to $1.3630, now running the risk of calling $1.3570 as PM Papandreou's speech was countered by critical remarks from ECBs Stark regarding the notion of a European rescue fund (EMF). - Mar 8 14:06

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