USD

It looks like the U.S. are tired of going through only the dynamics of stock index returns and reports. Yesterday, despite the positive closing of stock markets in the U.S., the U.S. currency strengthened slightly against its competitors, though this movement can hardly be called a turning point. Most likely, the issue reports on profits has already exhausted itself, have reached a pair of key resistance levels, and additional catalyst as the corporate front, and from the fundamental data, we have not yet seen.

Yesterday's releases have been mixed. The number of Americans filing applications for unemployment benefits rose last week from a 6-month minimum, since the change in timing of the closing of factories to upgrade and repair (they usually occur in July, but this year this has happened before) and the seasonal fluctuations in temper increase in downloads. Appeals for benefits rose by 30 thousand to 554 thousand per week, which ended July 18. Meanwhile, a separate report showed that housing sales in the secondary market, said in June the third month of growth through tax breaks, reducing the lending rates and falling house prices due to release to the market of houses seized for non-payment mortgages. Shopping grew by 3.6% to 4.89 million year on year, exceeding analysts' expectations and reaching the maximum value from October. Thus, we can assume that the spread in this sector are still not far away (considering that the activity of the population primarily manifested in relation to cheaper secondary residences). Nevertheless, it is worth remembering that until we see improvements on the part of the labor market, one can hardly speak about any positive signs. The population of United States remains the main engine of development, and simply requires that the number of people with permanent jobs and income, began to rise.

Today does not promise anything interesting: the major reports on profits are not expected, but their economic releases, we see only the data on consumer confidence, University of Michigan. Most likely, the markets will have a boring last working day of the week in the consolidation and preparation for new challenges.

EUR

Yesterday did not bring any positive emotions Euro - during trading sessions gradually favored currency gained in the recent past. His contribution to this was also not very positive reports on the profits of some U.S. companies (Microsoft). Economic data but were quite positive, but do not have little impact on currency markets. The mood in the industrial sector continued to recover from France in July, as the reduction of stocks has improved short-term prospects for production. The index of sentiment in the industry has grown at 2 PTS. up to 78 PKK. Thus, after reaching a record level in March, the index recovered to 9 PTS., Reaching 8-month maximum. In addition, the ECB data showed that the May deficit on the current operations of the E-16 has shrunk to the minimum value of more than a year, EUR1, 2 billion to EUR6, 1 billion in April.

Today, we see a series of positions in manufacturing and services sectors, which in the case of unexpectedly strong-building can still support the euro. Also, pay attention to a report from the German IFO. Strong indicators of industrial production, manufacturing orders and retail sales point to the likelihood of strengthening the index of business sentiment.

GBP

pound was the most persistent opponents of the dollar yesterday, holding in a narrow range throughout the trading day. And no wonder - the economic data have provided him strong support. June retail sales improved 1.2% m /m and 2.9% y /y - higher than all predictions, the annual figure reflects the maximum increase in December 2008 caused the growth rate was the title an extended period of warm weather have stimulated the demand of buyers of clothes and footwear (4.7%), as well as sales in department stores (0.7%). Another positive factor was the discount and the stock in shops. The report reflected the stabilization of consumer activity, which is in line with expectations that the economy is recovering from a sharp slowdown late in 2008 and the beginning of this year, complementing the other indicators of strong spending in the retail sector in June. In addition, a separate report showed that the number of permits for the mortgage lending reached a peak in June to March 2008. This confirms that the UK housing market is slowly but surely grope bottom, although recovery is still very far away.

Today's report on GDP for the second quarter, will attract attention. Many expect that performance will be much better than the beginning of the year, but even if they exceed the forecasts, then rest assured - pound probet another key resistance ($ 1.6600). In favor of a positive outcome of said positive dynamics of retail sales, so it is waiting, hope and faith.

JPY

The main initiators of movements in Asia today are crosses withyenoy, showed an increase at the beginning of the day against a background of expectations of traders active demand from Japanese investment fund Toushin and strengthen market shares. But regional shares have not shown growth, and anticipated demand for the crosses with yenoy disappoint the market, bringing traders decided to close the positions and record profits in anticipation of the weekend.

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