So, as it is known, Friday trade is inclined to present players with unexpected surprises. The last Friday despite the publication of lower than predicted US gross domestic product index for the fourth quarter, the dollar exchange rate showed forward rally at the American session, having strengthened against euro from a level 1.2233 up to a mark 1.2085 during the day.

Let's remind that the preliminary value of GDP index in the USA for the fourth quarter made +1.1 % for a year, at the forecast +2.9 % for a year and the previous value +4.1 % for a year. It became the lowest value since the 4 quarter of 2002.

Let's notice that previously for 10 quarters in a row GDP rise exceeded 3%.

Experts notice that the main reason of so low value is essential drop in state charges, consumers’ expenses, and also investment costs.

Analysts pay attention to that the companies reduce investments into the equipment because of the high oil prices that dip opportunities for output expansion.

Besides very weak car sales at the end of the last year have affected the preliminary value of gross domestic product.

The publication of the US New Home Sales data have supported so unexpected growth of a dollar exchange rate right after to the publication of weak preliminary value of the US GDP index for the fourth quarter.

Let's remind that adjusted for seasonal variations new home sales in the USA rose 2.9 % up to 1,269 million units in December, 2005 in comparison with November that has exceeded the market’s expectations.

The experts predicted that new home sales in the USA would make up 1.225 million units in December, and new home sales make up about 15 % of the total home sales in the USA.

The average housing cost made $221.8 thousand in December, that was 3.4 % below a year earlier. And house sales, which cost exceed $500 thousand, has fallen up to a minimum level since January, 2004.

Analysts notice that recent drop in mortgage rates and growth of household’s incomes will allow softening possible slowdown of development of the real estate market in 2006.

As a result Friday dollar rise made many market’s participants think over a key question: whether this rise of a "greenback" rate was an early signal of renewal of global strengthening on a background of cardinal change of players’ mind concerning the American rates, or this movement should be regarded as a long felt correction after New Year's victorious euro rally, caused by position closing by the Asian players before Eastern New year celebrating after which the dollar downtrend would start again.

The expectations of the next rate increase at FRS meeting on Tuesday on January, 31st are "in favor" of the dollar.

We should not forget, nevertheless, that in a view of an aggravation of a situation in the Near East after "Hamas" victory in Palestine, and also on a background of rigid and a hard line of the USA concerning the nuclear program of Iran, it is prematurely to make conclusions about the further vector of movement of the basic currency pairs.

The prospects of the FOMC further steps will likely become clearer after promulgation of FOMC members’ comments after the meeting on Tuesday.

We hope that as a result of protective stop operation in "make out" our readers, following our recommendations, have not suffered losses.

As a result the further growth of a dollar/franc rate and its overcoming of a resistance zone at levels 1.2890 become a signal of the correction end and of dollar further strengthening.

And failure of the pair to overcome these levels will likely lead the rate to a deepening descending correction and possible achievement of failed purpose of cut.

The dollar/canadian rate is more inclined to continuation of descending movement as stability of the Canadian currency is more dependent on the oil prices. Therefore, considering the high risks of continuation of growth of oil quotations, the probability of the further pair falling is kept.