At tenders on Tuesday the American currency was supported after the publication of favorable data on retail sales in the USA.

However subsequently the dollar exchange rate corrected considerably. Dealers connect this movement with closing by some investors of long positions on the dollar rate before the US FRS Chairman Bernanke, for whom it will be the first since his assumption of an office.

According to the US Department of Commerce the volume of retail sales was up 2,3 % in January, owing to growth of car sales at the beginning of 2006.

In December sales growth, according to the revised data, made up only 0,4 %. Earlier the Department informed that retail sales in December were up 0,7 %.

Excluding 3 % of growth in automobile sector, the total retail sales were up 2,2 % for a month. The indicator was maximal since March, 2004.

The level of retail sales is the important indicator of consumer expenses in the USA.

Also the Department of Commerce informed on Tuesday that growth of inventories decreased in December as growth of sales on 1.2 % exceeded growth of inventories on 0.7 %.

Growth of inventories is maximal since January, 2005

The ratio inventories – sales decreased in December to the record minimum 1.25 achieved in October.

Economists expected that the volume of inventories would be up 0.5 % in December.

Data over Eurozone were not so favorable as was predicted.

Investors’ expectations in Germany decreased in February that means the reduction of optimism in business circles according to data of the German Center of economic researches in Europe ZEW.

ZEW index of economic expectations reduced to 69,8 in February. While economists’ forecasts assumed the value of the index without changes at a level of 71,0.

In January ZEW index raised up to a two-year-old maximum 71,0, that is twice as much November indicator.

The forecast for the preliminary value of the gross domestic product index in Europe (12) for the fourth quarter 2005 made +0.3 % for a quarter, +1.7 % for a year at the forecast +0.3 % for a quarter, +1.8 % for a year.

The previous value made +0.6 % for a quarter, +1.6 % for a year.

The British currency dipped on Tuesday on a background of the weak inflation data. The official data over the UK showed that inflation in January was below forecasts.

Such data increase probability of one more basic interest rate decrease on 0.25 % by Bank of England.

According to the National bureau of statistics of the UK a consumer price index in January fell to 0,5 % to the last month, and was up 1,9 % y/y the second straight month. Besides data for December have been revised to decrease till +1,9 % for a year from 2,0 % initially.

The basic PPI excluding the prices for foodstuffs, alcoholic drinks, energy carriers and tobacco products, dropped to 0,8 % in comparison with the last month and was up 1,3 % in comparison with January of the last year.

The annual consumer price index decreased noticeably from September 2,5 %.

The retail price index dipped to 0,4 % in comparison with December and was up 2,4 % in comparison with the same period of the last year. In December the index was up 0,3 % and 2,2 %, correspondingly.

The indicator of PPI annual rise for December has been revised to downturn till 1,9 % from the previous estimation of 2,0 %.