USD

U.S. had a lot to run before you finish the trading day with the rising against the euro and the franc. It was assumed that the key event of the day will be meeting for the Fed rate, but intervention by the Swiss National Bank to reduce its currency Mix all cards. Meanwhile, the FOMC slightly disappointed because we did not receive any change of views on monetary policy. The Fed decided to leave the program buying bonds unchanged (at $ 1.75 trillion.) And indicated that inflation will remain low for some time. There remained only a guess: the fact that Fedrezerv did not mention an exit strategy from the current policy to stimulate the economy, said that the state of the economy itself is not yet so stable, so that to take any backward steps. In general, this is such uncertainty and sent the dollar up against selected currencies.

What the economic picture, it still remains controversial. The volume of the May orders for durable goods in the United States has exceeded analysts' forecasts, reaching a mark of 1.8%. Thus, the 3rd consecutive month showing growth that is a signal of economic recovery. Orders excluding vehicles rose by 1.1%, and excluding defense industry had risen to 1.4%. But sales of homes in the primary housing market in May unexpectedly fell to the background of the fact that Americans are in fear of losing their jobs, do not hesitate to be active in the market and more willing to buy homes, excluded for the debts at a reduced price. Primary housing market competes with the secondary, which is now cheaper due to the exclusion of housing for the debts. Decreased sales of new homes 4 months in succession caused disappointment after a report last week showed that construction of houses in May exceeded expectations, and the figure was 17.2%.

Today, we get the final assessment for the 1 st quarter GDP, which is not yet expected, no surprises. However, any adjustments in the indicators may have an impact on the dollar. It should also draw attention to data on the number of applications for unemployment benefits, especially at the level of secondary applications. As we recall, last week they fell for the first time in the current year, which of course pleased, but the trend certainly does not. As the statistics show, it always has stabilized or begun to fall at the end of a recession. So, if today we again see a positive momentum - expect a surge in risk appetites.

EUR

The pair euro /dollar is still stopped, the hands of the ECB. Auction refinancing was the greatest in history and the first of 3 planned. The demand was extremely high, involving 1 121 Bank. Thus, the money just fall into the hands of the banks at a fixed rate of 1%, given that interest rates are at a minimum, the operation of the refinancing is seen as a kind of quantitative mitigation, which is obviously harmful to the euro.

Meanwhile, economic reports were quite positive. Italian consumer confidence in June exceeded analysts' forecasts, reaching 18-month peak, as households have gained confidence in the world economy and labor market conditions have improved somewhat. Seasonally-weighted index of consumer confidence 4 th largest economy in the eurozone in June reflected the value of 105.4 to 104.9 in May. Consumer confidence continued to strengthen since March, when the index reached its minimum at 99.8. A separate report showed that euro zone current account deficit in the April 5 th consecutive month showed a decrease, with the combination of direct and portfolio investment recorded net outflows. Seasonally-weighted data showed that the deficit of current operations, the euro reached EUR5.9 to EUR7.0 billion in March. Today promises to be quiet, given that the order of the only record of industrial orders in the euro zone. Thus, the dynamics of the euro is likely to be determined by technical factors and sentiments on the dollar.

GBP

British pound managed to restore some of its losses against the dollar, but the celebration lasted long. Comments Mervyn King that the economic recovery will be slow and painful, rapidly reversed all the optimism derived from recent reports, and sent a couple down. By the way, namely to reduce the pound head of the Bank of England cited as a factor mitigating the economic impact of world crisis. If the return to economic reports, is not so smooth. UK Retail sales in June 2 nd consecutive month showed falling. The balance of sales compared with May, has not changed, remaining at the level of -17%, but retailers expect the fall in sales volumes in the next month, the forecasting value of -21% to -20% in June. Today's calendar is empty, so the pound is likely to remain under pressure from the recent comments King.

JPY

growth stock index and the satisfactory outcome of the Fed meeting, returned at the risk appetite, to stimulate the strengthening of the dollar and euro against the yen. To date, the Japanese importers continued to be sellers of the currency that will likely occur over the next time.

The EU postponed consideration of the entry of Croatia into EU
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Analysis - Results of the day
From a technical standpoint, is now interested in the paper CMI
The index of London Stock Exchange FTSE 100 fell 0.84% and is at the level of 4244.02 point
By the end of today's trading session is not expected to significant changes MICEX index
Mechel has signed contracts for the supply of coal in 2009 with companies from China, Japan and South Korea
The shareholders of Lukoil stock activity for 2008
Shareholders of TGK-13 have decided not to pay dividends on the basis of 2008