Late last week working on forex was marked by further strengthening of the currency of refuge against the general decline of interest in risky assets. The fall of stock indices and mediocre macroeconomic statistics, on Friday provoked the withdrawal of players in a "safe" dollars and yen.

For example, in early European session, investors are once again reminded about China and a possible further tightening of monetary policy in China. In particular, on Friday, the People"s Bank of China promulgated the final data on the volume of loans for 2009 According to the information in the past 12 months, China had issued 9.6 trillion. yuan ($ 1.4 trillion.) of new loans, almost double the figure in 2008 Annual growth rate of M2 reached 27.7%. This rapid growth of credit (and other indicators), will probably force the monetary authorities in China to think about the possible risks associated with an increase in liquidity. In this regard, many market participants believe it is likely that after the decision to raise from this Monday a mandatory level of reserves in yuan for commercial banks by 50 basis points, the Chinese Central Bank may agree to new measures to tighten monetary policy. In turn, the removal of money from the economy could "stalled one"s" increase business activity in China.

A block of macroeconomic statistics come out on Friday in the United States. Before the opening of tenders were published data on consumer prices for December. In the latter months of 2009, inflation in the United States rose by 0,1%, which coincided with a general forecast of economists. Compared to December 2008 consumer price index rose by 2,7%, mainly for the odd increase in the cost of energy.

In December, as expected, increased volumes of industrial production. According to the Fed, the U.S. industry in late 2009. demonstrated growth on 0,6%. This increase was attributed to a segment of utilities, the activity of which against the backdrop of the cold winter has grown by almost 6%. At the same time in the manufacturing industry production decreased by 0,1%.

disappointing market participants report University of Michigan, according to which, the preliminary index of consumer sentiment rose in January, considerably less than expected. The U.S. consumer is still quite vulnerable against the problems with unemployment.
Earlier this week of important macroeconomic news is expected. So, on Monday against the backdrop of a festive day in the U.S. forex activity is quite low. Main steam market, according to our forecasts, will today primarily to bargain in the range of 1,433-1,443 dollars per euro.

Although the external background and remains ambiguous, in Russia until the market is dominated by the positive mood
MICEX this afternoon, probably will be traded in a weakly negative zone near the mark of 1,445 points
An information plan Monday promises to be quiet and calm
External news background before opening a Russian trading platforms over the negative
Trading volume on the stock market, MICEX Stock Exchange on Friday amounted to 93.38 billion rubles
Gazprom and the Irkutsk region administration discussed the formation of the gas market along the route "Chikanskoye GCM - Sayansk - Irkutsk"
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