So, yesterday there took place two events significant for the market - one of which was planned and expected in advance (ECB meeting and the decision to leave the rate unchangeable), and the second - unexpected and affected nervousness in the market (the statement of CIA Head that Al-Kaida again prepares for acts of terrorism against the USA.

So, ECB, as well as it was predicted by overwhelming majority of analysts, has left the interest rate at a level of 2.25 %. Many experts believe now that at support of strong economic data ECN can go increase the rate one more time, in March. We shall also remind that only in December of the last year the bank lifted the rate on 25 basic points for the first time for 5 years.

On ECB forecast in current year inflation will exceed 2 % the seventh year in a row, since 1999. And wage restraint, in opinion of experts of bank, is the key factor for preservation of price stability.

It is obvious that yesterday and today, before the publication of key release of the week - the US labor market review for January, the dollar is under some pressure of anxieties about terrorism and rumors that the USA can raise a level of terrorist threat.

Yesterday's data, on the contrary, have sustained the dollar a little. As the US Department of Labor informed the initial jobless claims dropped to 273.000 for a week, ended on January, 28th, from 284.000 a week earlier.

Thus data of the last week have been revised from 283.000 up to 284.000. The experts, surveyed by Reuters, predicted 295.000.

And the average number of new jobless claims fell to 284.250 for four weeks by January, 28th from 289.000. It was originally informed on 288.750 claims. As a result the average number of new jobless claims for four weeks by January, 28th became minimal since June, 10th, 2000.

The total number of jobless in the USA for January, 21st dipped to 2.509 million from 2.573 million a week earlier.

Besides Reuters agency, referring to consulting firm Challenger, Gray and Christmas Inc., has informed that the number of the scheduled quits in the American companies was down 4 % in January, 2006 in comparison with December, 2005.

Employers announced in January about the scheduled quits of 103.466 employees against 107.822 in December because of reductions in automobile sector, in particular, in a company Ford Motor Co.. Challenger, Gray and Christmas Inc. has reported that employers in January informed on the planned hiring of 13.945 persons.

It is remarkable that in the 4 quarter of the last year labor productivity in the USA was down 0.6 % q/q. Thus experts expected growth on 1.6 %.

Productivity has fallen for the first time since the 1 quarter 2001. In the third quarter of 2005 productivity was up 4.5 %. And manpower costs in 4 quarter was up 3.5 % against falling on 0.5 % in 3 quarter.

So, today the employment data, which publication is planned at 13:30 GMT, will have a leading role in the market:

- Nonfarm payrolls in the USA for January. The forecast 240.000, the previous value 108.000;

- Unemployment in the USA for January. The forecast 4.9 %, the previous value 4.9 %;

- Average hourly earnings index in the USA for January. The forecast +0.3 %, the previous value +0.3 %.

And later it is necessary to pay attention to the publication at 14:45 GMT of final value of University of Michigan Consumer Sentiment Index in the USA for January. The forecast 93.4, the previous value 93.4.

And at 15:00 GMT there will be known ISM business index in service sphere in the USA for January, the forecast 60.8, and the previous value 61.0. And factory orders index in the USA for December will also be issued. The forecast +1.0 %, the previous value +2.5 %.

Considering the fact that the basic currency pairs now trade near the key levels of supports and resistance, today's nonfarm payrolls data in the USA for January should form that necessary impulse which will show further dynamics in the market.

Therefore we recommend opening dollar/franc "longs" if quotations overcome a local maximum of 1.2920. And those who kept "longs" earlier - should strengthen them. We shall remind that the key purpose of growth is the level of 1.3100.