Today and yesterday fundamental data have balanced up and down flows on FOREX market. However trade balance data have been unexpectedly positive and have induced traders to purchase the dollars.  

The basic news of the day is an issue of the Trade balance report for November, 2005 of the Census Bureau and the Bureau of Economic Analysis of the US Department of Commerce.

According to these data trade balance deficiency decreased on 3,9 billion in November up to $64.2 billion against -$68.1 billion in October (revised from $68.9 billion).

Reduction of deficiency has been even more than predicted values, stock experts assumed reduction of monthly deficiency on $2,1 billion. Deficiency of goods - $68.9 billion against

-$73.2 billion in October; except for petroleum -$44.7 billion against -$48.1 billion in October  

Import volumes have dipped on 1.1 % to $173.5 billion, export volumes climbed on 1.8 % up to $109.3 billion. Data on export and import prices for December: the total export prices, except for agriculture +0,1 % y/y. Total import prices have not changed. The record level of goods and services export and drop in petroleum import have helped to lower trade balance deficiency in November as the governmental data have shown today. Cutting of deficiency of the foreign trade transactions of the USA always affect dollar positively. 

After an issue of these data the dollar position have improved on 100 points.

Despite that the position in the oil market and week labor market data have put pressure upon the American currency. 

The oil prices have grown above $64, testing 3-month highs on a background of anxiety about the decision of Iran renew the nuclear research program can open the way for Security Council sanctions against the basic OPEC oil-producing country. On Tuesday Iran broke the United Nations seals at nuclear factory Natanz to renew researches of enriched uranium that has led to warnings from the western countries, that they can call Security Council to use sanctions against the country. The rise has happened in spite of the fact that yesterday data of the US Department of Power reflected growth of petroleum and distillates stocks above forecasts.  

At 11.16 GMT, February Brent future contracts rose to $62.93 per a barrel, and February prime contracts of USA WTI came up to $64.65 Geopolitical intensity in Iran, Iraq, Israel and Nigeria have helped the oil prices to pick up on $6 from the end of December, and the US oil reached a new 3-month maximum up to $64.80 per a barrel. 

According to the Initial Jobless Claims report of the Employment and Training Administration of the Department of Labor for a week on January, 7th jobless claims went up on 17 thousand to 309 thousand against the forecast of 325 thousand.

The situation in the market has changed a little after the last fundamental news. Quotations have returned to the limits of the former currency corridor limited by levels 1,2065-1,1640 on euro. At tomorrow Asian and European sessions correction of a trend can go on presumably up to levels 1,1860. Therefore today it is recommended to be outside of the market.