Activities purchases of American trezheriz on Monday evening, a few declined. It seems that in this case, the dynamics of market quotations reflect both technical factors associated with the achievement rate of return UST 10 support at the level of 3.5% per annum, and published yesterday by the U.S. macroeconomic information. According to her, the index of business climate in the industry, calculated FRB of New York in August of TG, increased to 12.1 point against -0,6 pt. in the previous month. Thus, the August value of the index significantly higher than their average forecast, equal to 2.2 pt.

Also released on Monday the index of sales of houses and the planned building, according to the U.S. NAHB, in August 2009, grew up to 18 pt. to 17 pt. July TG, that's true, in line with average market expectations.

Against this background, quotes EUR /USD in the trend growth of activity in a certain sector of trade on the difference in interest rates and rising prices of commodities futures managed to the opening of today's European session, re-marks near 1.4120 against 1.4070 at yesterday's opening session in New York .

It is possible that some support for the euro exchange rate in this case, and has statistics published yesterday by the balance of capital flows data for the U.S. Treasury. In June, TG this figure - in spite of the significant intensification of American foreign debt purchases CB - again was negative and amounted to - $ 31.2 billion to - $ 65.7 billion in May 2009 as previously reported on May net outflows from the United States a few more than the amount of investment, $ 66.6 billion

Importantly, however, noted that the statistics is sufficiently distant in time and, although its influence could affect the quotation in a relatively short period, it may not reflect the market situation on the FX in terms of medium-term prospects.

Given the above, as well as taking into account the general positive trend on the statistical information received in recent months on the segment of investment in the risk of possible in the short term is a further appreciation of the EUR /USD.

The situation in the credit-investment financial sector remains, appears to be relatively unstable. Against this background, significant activation of the regulatory structures of action aimed at containing inflation expectations in the current circumstances, is probably premature.

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