On Monday the dollar exchange rate corrected a little after Friday falling.

The American currency has got support from rather aggressive comments of FRS Board’s members.

In particular, directors of Atlanta and Kansas FRS said that inflationary risks were still in economy which demanded steadfast attention and, if necessary, corresponding actions. Besides there was an opinion that at the moment the federal funds rate was at the bottom border of a neutral range and demanded the further increase.

However the American currency has failed to restore completely because of the weak Friday employment report in the USA.

The published data have been twice as less than the expectations and have made 108000 against assumed 200000.

In the USA in November consumer credit dipped on 0.6 billion dollars against the revised previous value -8.4 billion dollars.

Data assume that consumers take new loans reluctantly, probably, it is a good sign of expenses growth in future.

This week the investors will  pay their attention to the US trade balance data which issue is planned on Thursday.

In dealers’ opinion the end of a cycle of rates rise is already close and the market will switch over external record deficiency of the USA.

Also key retail sales data on and producer price index for the December, which will be published on Friday, can be in traders’ attention.

In its turn, the single European currency has slightly decreased against dollar as investors wait for the decision of the European central bank - whether the rate will be increased or not.

The member of ECB Governing Council Wellink has told that the pick-up in growth of economy of Europe (12) increases the probability of the further increases of the basic interest rates in region. This statement can support euro rate.

The data, published on Monday, can also sustain rates of euro and the British pound as indicators in Germany and the UK have been at high levels.

For the period from October till November the trade balance of Germany has decreased on 2.7 % in comparison with value of the third quarter, and in the third quarter the indicator rose on 2.2 % in comparison with the second quarter.

The trade balance except for seasonal fluctuations has made 13.3 billion euro, having raised to October value 12.2 billion euro.

The balance of payments in Germany made up +8.1 billion euro for November.

The previous value has been revised from +6.4 to +6.2 billion euro.

As the data of the Halifax research of the housing market, published today, showed in December the housing price in the UK proceed to grow.

The average house price has grown on 1.0 % m/m and on 5.1 % in comparison with the last year.

Besides for the last quarter of 2005 the housing prices fixed a gain on 2.1 %, having confirmed the process of the moderate restoration developed in the second half of the year.

The annual rate of a rise in prices 5.1 % is minimal for the last decade.

These positive data are in line with other indicators of the housing market - especially with mortgage lending data of the Bank of England - which assume that the British sector of the real estate rebounds from minimum of 2005.