So, before today's speech of the US FRS Chairman Bernanke, which will be the first since replacing Alan Greenspan, the market’s players are rather reluctant in taking trading decisions. We shall remind that Bernanke’s testimony is planned at 15:00 GMT, analysts assume that the basic currency pairs will keep trade in ranges.

It is necessary to notice that such steadfast attention to Bernanke’s speech is quite justified as FRS new head expressed in past his own position in determination of a limit of inflation neutral rate.

The majority of analysts suppose that today's Bernanke’s testimony will be in a context of the further continuation of a cycle of rate increase. However, considering message of FOMC last instruction, the market’s players understand that the FOMC members will take into account current economic data as determinants for continuation of monetary policy firming.

On this background yesterday's data on retail sales added a positive to investors. We shall remind that retail sales index in the USA made +2.3 % for January, at the forecast +1.0 %. And the previous value has been revised from +0.7 % to +0.4 %.

And retail sales index excluding automobiles in the USA made +2.2 % for January, at the forecast +0.8 %, and the previous value +0.2 %.

Thus the index of industrial stocks and the inventories in the USA made +0.7 % for December, at the forecast +0.6 %. And the previous value is revised from +0.5 % up to +0.6 %.

Growth in December was provided basically by automobiles. Sales of the companies were up 1.2 % in December. Stocks of retail sellers in December were up 0.7 %, and the sales volume of retail sector was up 0.3 %.

The ratio inventories – sales, showing how long does it take to sell inventories at present rates of sale, made 1.25 months in December against 1,26 months earlier.

Today investors will watch closely the publications of the whole block of the important macroeconomic indicators:

- NY Empire State Index in the USA for February at 13:30 GMT. The forecast 18.0, the previous value 20.1;

- Industrial production index in the USA for January at 14:15 GMT. The forecast +0.2 %, the previous value +0.6 %;

- Capacity utilization in the USA for January at 14:15 GMT. The forecast 80.7, the previous value 80.7.

Besides the market’s players wait for the publication of net foreign purchases data to the USA (TICS) for December at 14:00 GMT, which also take risks before Bernanke’s speech. We shall remind that the average estimation of economists consists in expectations of actual figures at a level of 70 billion dollars, and the previous value was equal to +89.1 billion dollars.

The favorable background for the further growth of a rate of the American currency develops in the market of energy supply - for the first time from the beginning of year oil quotations dropped below a mark $60 for barrel.

Experts of the fuel market forecast that today's data will again show increase in stocks of petroleum and oil in the USA that leads to the further drop in the oil prices.

Analysts say that geopolitical problems have now receded into the background and the bear moods prevail among oil traders.

As a result yesterday the prices for March futures for oil WTI were down 2.7 % to $59.57 for barrel. And on today morning the price fell to $59.31, but then returned to $59.60.

After a sharp cut from a level of the first purpose of growth at 1.3130 we do not exclude drop in a dollar/franc rate to the levels 1.3005-15, whence new purchases of a rate seems to us the optimal. In this case protective stop should be placed under a level 1.2920. We shall remind that the next growth can lead the pair to marks 1.3250-70.

The analysis of a situation of the dollar/canadian rate does not also exclude drop in the pair to a level 1.1480, then the next growth to 1.1630 is possible. Therefore, in case of reduction of the pair to 1.1480, at formation of additional signals of growth, it is also necessary to open "longs" with the purpose at 1.1630. Thus protective stop should be placed under a level 1.1435.