The eurodollar and pound of sterling-dollar quoted within the limits of strong levels of support. Before the US Trade Balance and Treasury Budget reports large players do not risk to open long-term positions.

The dollar is again under pressure of the oil market.

The oil prices tested a level of $63 for barrel. Prospects of oil supply troubles have again excited the oil exchange platforms. Having won back growth of petroleum stocks in the USA on Wednesday, investors again paid their attention to a situation around Iran. The situation around the nuclear program of this Islamic republic is in a condition of an aggravation. Moreover, the USA are ready to attack the nuclear reactors in Iran. While this position is poised by a restraint position of Russia and especially China.

Fundamental data over the USA yesterday also "played" against the dollar. Wholesale trade data include sale the goods of the second production stage. According to the report of the Census Bureau of the US Department of Commerce, - Wholesale Trade, wholesale inventories was up 1 % in December, 2005.

The economists, surveyed by MarketWatch, forecast growth of inventories on 0.5 %. The revised inventories rose on 0.5 % in November against +0.4 % earlier. Sales went up 8.3 % for the last 12 months. Inventories were up 6.7 % year over year.

Durable goods sales were up 1.3 % in December, including growth of car sales up 1.8 %. Sales of all kinds of the durable goods were high, except for an electrical equipment. Durable goods inventories raised on 0.6 %. Stocks of cars picked up 1.2 %.

The ratio of inventories-sales for the durable goods went down to1.46 against 1.47 in November. Sales of the nondurable goods rose on 0.7 % in December, including growth of petroleum sales on 4.4 %, that was more likely the result of wholesale prices rise. Nondurable goods inventories were up 1.6 %, despite the drop in petroleum stocks on 1.5 %. Drug inventories grew on 3.9 %. The ratio of inventories-sales of the nondurable goods picked up 0.85 against a peak of 0.84 in November.

According to the Initial Jobless Claims report of the Employment and Training Administration of the Department of Labor data have shown growth of jobless claims on 4000 up to 277000, it is more than the previous data, but less than predicted value - 285000.

4-week average seasonally-weighed jobless claims dipped to 276,500 minimally since April 2000. Average number of new claims are almost on 50,000 below a greater part of 2005.

The Bank’s of England meeting ended on the predicted note. Bank of England left the rate without changes at 4.50 % at the end of February meeting. This decision was expected the analysts though their forecasts concerning the further direction of monetary policy differ greatly.

As MNI last poll showed the analysts predicted unanimously that the rate would be left without changes by Bank of England today, however they were divided into two groups concerning the probable rate decrease this year.

According to the median of analysts, the Bank’s rate will make up 4.375 % to the end 2006, this average value between a current level at 4.5 % and 4.25 %. By the end of 2007 the rate rise up to 4.5 % is expected. 10 of 20 polled analysts declared that this year the rate decrease is expected, and 10 analysts declared that it is not expected.

Since yesterday the situation has not changed much, the market is expecting the important Trade Balance and the Treasury Budget reports today at the beginning of the American session. If Trade Deficit Balance of the USA shows growth of this indicator this event will hardly influence greatly on currency quotations. However if data show decline of a trading corridor between import and export the dollar can break strong levels of support on euro and pound sterling.

However now it is not necessary to hurry up and open new positions. According to the previous recommendations Shorts were closed yesterday

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