USD

The lack of bright economic events of a few limited the dynamics of exchange, but the weakening dollar, particularly against higher-yielding commodity currencies have been obvious. Here, a role played by several factors, of which we mentioned earlier. However, to summarize for him in the future, since it is possible they will continue to exert its influence until the end of the year.

In the first place, the attention attracted by the rate increase by the Reserve Bank of Australia. Of course against the background of such active steps (and based on real stabilization of economic indicators) Fed looks rather pale. Literally at the last meeting he made it clear that he would adhere to the soft monetary policy as long as possible. And, in general, it is not surprising. Whatever may be said the U.S. government, weakening the national currency in times of downturn in demand and general business activity only for the benefit of the country. And the company, whose business is located abroad, can get more profit for the repatriation of their profits and Adjustment transactions in USD.

Another factor of pressure for the dollar may be all variations on a theme that he loses status as a world reserve currency. Yesterday's talk about that oil countries abandoned the dollar payments only added fuel to the fire, although they were denied by the authorities of all countries on the list. Of course, who will be recognized that it held a secret meeting - on it and the secret. In any case, the theme of diversification of currency reserves away from a dollar more than once appear on the market, may be a new interpretation.

The coming season of publications reporting could also bring the dollar only negative emotions. It is likely that the weakening national currency has helped companies-exporters, which, in turn, created a higher activity on the domestic market. In addition, the financial sector has repeatedly hinted at the fact that they almost got rid of all the problems of toxic assets. Thus, if profits actually are higher than projections, is stir hopes for rapid recovery of the first world economy out of recession, thereby triggering a wave of demand for riskier assets (U.S., unfortunately, are not). Thursday will be published the first report. Wait remained not for long. The economic calendar is almost empty, and the data that are still published, do not represent any special interest. So, wait a minute motion on the basis of rumors and technical factors.

EUR

Euro has kept his enthusiasm in terms of growth against the dollar, but still continued to strengthen. Lack of economic indicators did not bother the players who base their trades exclusively on the expectations of the rate and at the moment the ECB in a more advantageous position. And rumors about reserve diversification are common currency in favor of - who no matter how it is able to replace the dollar in this status?

launched today the second release of GDP data for the euro zone 2 quarter is unlikely to yield any surprises, but the volume of orders in the manufacturing industry should pay attention. Perhaps the completion of the program Cash for crock will have its negative impact on performance, which could slightly undermine the euro. However, do not think that the currency could seriously weaken until the press conference, Trichet is scheduled for Thursday.

GBP

Britain is the only economic reports released yesterday, and the pound was almost the only currency, which weakened against the dollar, with some help from those very economic data. In August, the volume of production in the manufacturing sector, confirming that the national economy, is trying to recover from the recession, there are still serious problems. Indicator fell in monthly terms by 1,9% (maximum in January) on the background of weak results for all 13-year-categories. In annual terms, the decline amounted to 11,3%.

And, despite the fact that a separate report showed that housing prices in the UK noted the third month of growth, the pound went on the decline. It did not help the currency and a monthly survey Nationwide Building Society, showed that British consumers have more confidence in the economy and show less anxiety about job losses. According to research Nationwide, the index of consumer confidence rose to 71 to 65 in August, reflecting the maximum in April last year's value.

Today from reports remained only the retail price index, which is unlikely to attract the attention of players. Most likely, the currency will move under the influence of market sentiment on the eve of the meeting at the rate of the Bank of England.

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