USD

Once again, when the market does not know what to do, he goes and buys dollars. And so it happened yesterday, when the American currency was able to gain a little against all its major rivals. Nevertheless, when the consent order does not, well, you can expect a very rapid rate of turn in the opposite direction, because to date no more or less clear arguments for the motion is not observed. Economic data have been contradictory harakter.Tseny at home in the 20 largest U.S. cities grew in May compared to April for the first time in three years. Analysts took this as a sign of stabilizing the housing market. The index of house prices compiled by the SP /Case-Shiller, rose in May to 0.5% versus April for the first time in July 2006 and the highest since May last year. In annualized decline was 17.1%, not dotyanuv up to the expectations of the market. However, despite this, the mood of consumers in the United States continued to deteriorate in July, with greater than analysts had expected. This has increased fears that rising unemployment will cause considerable damage to households. Consumer confidence index compiled by the Conference Board, fell in July to 46.6 PTS. against 49.3 PTS. in June. In February, the index reached a record minimum of 25.3 PTS.

Today on the agenda will be the state of the economy, as well as the expected publication of the report Beige Book. It is necessary to see whether different parts of the country to reflect the slight signs of stabilization. In addition, interest will also submit orders for durable goods, which reflect the corporate and consumer demand within the country.

EUR

For the level of 1.43 euro became incomprehensible, because the currency is only just get to it, she immediately ran out of force, so that it quickly came down to the current area of $ 1.4140. It seems that we have made a contribution and not very optimistic reports of American companies by revenues. The economic calendar was пустоват - the only report concerned the Italian consumer confidence. Consumer confidence in Italy has risen in July is stronger than analysts had expected - to the highest level since November of 2007 - due to improved prospects for the economy and the labor market. National Center for Statistics of Italy ISAE reported that they compiled the index of consumer confidence rose in July to 107.5 against 105.4 in June. Consumer confidence is growing in Italy since March, when it reached the minimum mark 99.8 PTS. As shown in this month published a report, the volume of industrial orders in Italy rose moderately in May compared to April. Increased first time since July last year against the backdrop of growth in domestic demand that was seen as a sign of improving economy. Increased consumer confidence develops after the improvement of the indicator in Germany, the largest economy in Europe, where consumer confidence is growing in the past three months.

Today promises to be as boring, so it's likely there will be no surprise if the news, markets, and will rush from side to side, giving the euro a chance to regain their losses.

GBP

pound and continued to fight within the walls of a fairly narrow range, not having enough strength to break higher, but not allowing traders fully disappointed. The breakthrough had occurred, we can only wait for something more meaningful by the economy or politics. Yesterday's report on retail sales is not impressed. The results showed that in the retail trade remains a difficult situation, although the pace of the fall of trade volumes and the slowing in line with forecasts. Nevertheless, the prospects are not very encouraging - if people even more upset because of the situation in the housing market in August, we will see another weakening consumer demand. However, a separate record field was optimistic: a price index for housing on the data of land cadastre has increased by 0.1% m /m. This was the first monthly growth rate since January 2008, once again confirming that the slowdown in the real estate market is weakening, and the market shows signs of stabilizing.

Today's calendar is rather saturated, so we expect the data on credit market, which remains one of the most important to date. The number of approved applications for a mortgage in the event of a significant strengthening is likely to cause demand for the pound, and his breakthrough upper range.

JPY

In the Asian session, the players covered positions to cross with yenoy in a thin trades, resulting in the euro /yen has weakened to a minimum Y133.44, but it was higher than the previous (Y132.91). Dollar /Yen followed the example of euro /yen, down to a minimum Y94.31, then rolls back to Y94.50, and then firmed above Y134.00.

As reported today, the Government of Japan, in June retail sales fell by 3% y /y to a pessimistic mood of consumers, despite the enthusiastic comments of the authorities of the imminent economic recovery. In June, the index without regard to the reduction of inflation has shown a 10-month row. According to the Ministry of Economy, Trade and Industry, for the period from April to June retail sales fell by 2,9% y /y.

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