USD

All previously identified factors of influence on the U.S. currency continues to provide her active action. That's been three meetings of central banks, each of which gave different results, but, ultimately, emphasized the neutral state Fedrezerva. And this, in turn, only placed further pressure on the dollar. The more central banks will stand in the way of tightening, so the dollar is unattractive, since we do not expect the Fed to change its policy before the end of the year. Of course, for example, the Bank of England is set up more amicably. However, in this case, the pound could support the overall negative sentiment on the dollar.

The second factor is the impact on the USD has also continued to justify himself. Company Alcoa, PepsiCo and Marriott first reported profits exceeding forecasts. And this is only the beginning. Perhaps next week will bring even more positive, and therefore only strengthen the belief in the imminent restoration of the world economy and support demand for riskier assets. By the way, do our part to make the optimism and economic data. Last week, the number of applications for unemployment benefits fell more than economists predicted. The primary application for unemployment benefits fell 33 thousand to 521 thousand per week to October 3. The last time such a minimum was registered on January 3. The value for the previous week were revised to 551 to 554 thousand four-week moving average of new applications, by smoothing out fluctuations in the data, also fell by 9 thousand to 539 750 thousand

from today's reports on the agenda, only data on the trade balance, which are unlikely to have a major impact on markets. Interest continues to be dynamic export volumes. The growth rate in relation to the cheapening of the national currency will help the U.S. get rid of its luxuriant deficit. This morning, the dollar regained some lost ground, probably in connection with the positioning and profit-taking at the end of the working week. Perhaps the movement will continue throughout the day.

EUR

single currency had to fight for their profits during the previous day in connection with rather mixed Trichet's comments at a press conference. In general, he was determined to rather optimistic, hinting at the probability of early consideration of exit strategies. However, in response to the tricky question of currencies, the head of the ECB reiterated that a strong dollar in the current circumstances is extremely important to the economy. Nothing new, however, the very confirmation of previous comments once again forced markets to worry.

economic reports yesterday did not arouse much interest. According to the Ministry of Economy of Germany, in August, industrial output rose by 1,7% m /m, practically coincided with forecasts. In annual terms, industrial output declined by 16,8%, taking into account working days. Today we look at the data on trade balance and current operations in Germany, as well as the consumer price index for September. The latter will be of interest as an indicator of inflation in the region. The growth rate can support the euro.

GBP

Funt was able to strengthen against the dollar and against the euro (though this morning he gave most of the profits). Initially, as soon as we learned that the Bank of England left rates and volumes of the program of buying up assets in the same place, the currency weakened slightly, as most players have already laid this event in the price. However, the Briton quickly recovered and began to strengthen. Bank of England is not rejected completely the idea of expanding the program of quantitative easing. Most likely, the key in this regard will be MPC meeting next month, just before the release of the quarterly inflation report (the data are likely to already be available to members of the Committee). The Bank will consider the economic indicators and the impact of already implemented policies to stimulate the economy, and decide on the size of the program of buying up assets.

Today, we get reports on trade balance and producer price index. Both are important to reflect the state of the economy. Given the commitment of the British government policies of the weak pound, this would have a positive impact on export volumes and, consequently, on the country's trade balance. The growth of PPI (if it is to be observed) can also support the pound, especially given the continuing concerns about deflationary pressures.

JPY

Jena began suffering from the morning. Quite a volatile week came to an end, forcing traders rushed to close their positions and record profits. Thus, the pair dollar /yen has moved away from sessional minima, and crosses with the yen strengthening experienced.

However, economic indicators, published today, called a healthy share of optimism. Orders for Japanese machinery products rebounded in August from a record low. Of course, this does not change the gloomy outlook, capital investment, since the fall in demand has forced companies to reduce their costs. The volume of orders, an indicator of business investment for the period from 3 to 6 months, rose in August at 0.5% against July, when it registered a decline of 9.3. Although the infusion of state funds in the economy of various countries around the world revived the demand for Japanese exports, companies such as Toshiba Corp. and Toyota Motor Corp., continue to close factories and cut costs to remain profitable.

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