USD

nothing unusual in the world for Monday has not happened, not counting the penalty Medoffa to 150 years in prison, but hardly anyone is interested in the currency markets. And so, for the most part, couples to laziness, usually observed on Monday, and do not wish to risk in anticipation of the end of the month, quarter and half. Summer is traditionally considered a season of calm to investors, but the global crisis, of course, a bit confused card. Nevertheless, in the near future, we see no special catalysts abrupt movements: even if the growth rate will generally stabilize, it is still unlikely to make the move to the Central Bank policy tightening as soon as the state of the countries there are still so vulnerable.

Yesterday, the only records of the United States have been on the business activity of FRB Chicago FRB Dallas. Both indicators were slightly weaker than expectations, but this does not roiled the markets. According to figures released by FRB Chicago, under the pressure of problem avtosektora, activity in the manufacturing sector midwest United States in May reached a minimum of nearly 16 years. The index of manufacturing sector in the Middle West fell 3.1% in May to St. 78.2, down from September 1993. May data also showed that the FRB index of industrial production fell by 1.0% in the region. In general, a Chicago index remained in negative territory for 21 months, so it is not surprising happened. FRB Dallas on Monday reported that the production index for June reached -7.0 from -12 in May, while the total activity index was equal to -20.4 in May after the value of -21.5. The index of employment in June was equal to -25.2 to -27.0 in the previous month - do not forget that we already have to begin to track any indicators of labor market in anticipation of a report on levels of employment.

Today, the scene will report on consumer confidence and Chicago PMI. Given the positive momentum in the index of FRB Philadelphia, you can hope for positive surprises in this region. Markets, of course, will have any liking for the recovery of manufacturing indicators. All of these regional reports will help us prepare for published this week index of ISM.

EUR

euro managed podrasti slightly against the dollar, which is to support and economic data. In June, the index of economic morality euro recovered stronger projections, as well as the stabilization of consumer sentiment, services, and industrial production compensate for the loss of retail sales. After growth at 5.6 PTS. April record with a minimum index of economic sentiment EU has added another 3.1 PBC., showing the maximum value in November.

Today, we get data on the German labor market. ILO Report had already shown the morning increase in the number of unemployed at 140 thousand in the last year. If the public record will confirm the weakness of the industry, this could put pressure on the single currency. Nevertheless, there is the possibility of positive surprises - a component of PMI employment index for manufacturing and services offers hope for improvement.

GBP

A pound eye is not sufficient arguments to show more or less serious breakthrough or completely stop its attempts to grow. According to the latest figures released by the Bank of England, in May, the net mortgage lending dropped to the minimum target from the beginning point of research, and the number of approved applications for mortgages to demonstrate growth. In May, net mortgage lending fell to stg324 against stg908 in April, showing the lowest rate since April 1993. The number of applications for mortgages was 43 414 to 43 101 in April. Net consumer credit in May rose to stg300 million against stg200 in April. The rate was higher than the March minimum stg42 million, but much lower than consumer credit a year ago (stg1.5 billion). So, the situation in the area of credit is still far from positive, and. likely, the Bank of England will have to make additional efforts to achieve all the same to any activity in this area.

Yesterday, British Prime Minister Gordon Brown announced new initiatives to mitigate the impact of a recession, which includes a new employment program for young workers and the triple funding for affordable housing. Brown said that the new employment program, which will start in January next year, will guarantee a job or retraining for those who less than 25 years, and who has worked for at least a year. Well, hope that his words will be supported by actions - the prime minister simply needed the positive results to at least a little bit to revive its reputation. Today's report has revealed that British consumers have become more optimistic about economic prospects for the next 12 months in June. This means that consumers believe that the measures taken by the government and the Bank of England to support the economy should work. All this suggests that the costs do not decline as much as many economists had expected.

Today, we get data on GDP for the quarter 1 last reading, as well as the balance of current operations. It was expected that the topic of growth will still be revised downward, and if this will have a significant projections expect a wave so sales are not very sustainable lbs. Balance of current operations are unlikely to affect the hearts of traders, although there is expected to decrease the deficit, given the similar dynamics in a report on trade balance.

JPY

Jena rose slightly against the dollar, despite pressure from the cross, such as Aoussa /yen and euro /yen. Today's report showed that real household spending in Japan rose to Y285, 530 in May, which is 0.3% higher than in the past year, and this is the first annual increase for 16 months. The growth of household expenditure in May was a turning after declining by 1.3% in April. This is the first annual increase since January 2008 (3.6%). Given that Japanese consumers in general because of their mindset more inclined to save than spend, these data offer hope that the consumer sector of the economy may extend oslabshey the very hand. Nevertheless, the rate of b /d to nearly 6-year peak in May at 5.2% versus 5.0% in April, as jobs continue to decline. The factor is not very stimulating for extended costs of the population.

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