So, for the last day the situation in the market has not almost changed – dollar-positive yesterday's US FRS new Head’s speech is poised by hawkish rhetoric of ECB representatives, assuming the probability of interest rates rise in a zone of euro.

Let's notice that Bernanke’s testimony on Wednesday and on Thursday were not unexpected. As a matter of fact, US FRS new Head reiterated Greenspan’s words.

Bernanke calmed investors, having declared that the risks connected with sale of Exchequer bonds by the foreign Central Banks are strongly exaggerated. And in response to the last statements of the representative of Syria central bank Ben Bernanke said that he had not yet heard about any plans of other foreign Central Banks to change dollar reserves.

However, in FRS Head’s opinion even if it happens it will render insignificant influence on the markets of the USA due to their high liquidity.

During yesterday's statement FRS Head reiterated what he told on Wednesday – FRS decisions on rates will be taken in view of the last macroeconomic data.

And Ben Bernanke again noticed that by the historical criterion, current rates are still close to a minimum.

In conclusion of his speech the Head of the American Central Bank addressed to the Chinese People's Republic Government, having told that if China was interested in stability of the financial market it [China] should be more flexible in its home foreign exchange market.

Last data, being mixed, are dollar-positive. So, investors consider weak data on jobless claims in the USA for a week on February, 11th which made 297.000, at the forecast 285.000. And previous data have been revised from 277.000 up to 278.000.

Thus the average number of new jobless claims for four weeks on February, 11th increased up to 283.000 from 276.750 a week earlier. Preliminary value of the last week made 276.500.

The total number of jobless in the USA for February, 4th made 2.511 million in comparison with 2.550 million a week earlier. It was informed earlier on 2.557 million people.

And data on building sector became a surprise. So, housing starts in the USA was up 14,5 % in January in comparison with December and made 2.276 million houses against 1.988 million in December, 2005. This indicator became maximal since March, 1973.

Let's remind that economists forecast the figure of 2.0 million.

And the building permits were up 6.8 % to 2.217 million in January against 2.075 million in December.

The other data - on export and import prices also support expectations of the further FRS rate rise. We shall remind that import prices in the USA were up 1.3 % m/m in January whereas experts expected growth on 0.9 % m/m. In December import price was down 0.1 % m/m.

And export prices were up 0.7 % in January to December. Thus analysts forecast growth on 0.2%.

Yesterday Philadelphia Federal Reserve index of business sentiment in February was the biggest surprise. We shall notice that this important indicator, which reflects business situation in an industrial branch, 1/6 of the US economic activity fall to the share of which, allows the economists to predict growth of ISM index at a national level in February.

So, the value of the indicator rose up to 15.4 points in February, 2006 from 3.3 points in January, 2006. And, on economists’ forecasts the index might have grown up to 10.0 points.

The new orders index, being the indicator of the future rise, raised up to 12.5 points in February from 11.1 points in January, the price index reduced to 30.5 points from 44.9 points. And the employment index dropped a little in February to 11.3 points from 11.7 points.

As a result the market’s players, considering Bernanke’s last testimony, will again watch closely economic indicators.

It proves to be true by statement of the US Department of Finance Head John Snow, who, having refused to talk about dollar prospects, noticed only that "fundamental economic indicators are strong, and currency quotations reflect these indicators".

Today the following publications are planned at 13:30 GMT:

- Producer price index in the USA for January. The forecast +0.1 % for a month, and the previous value +0.9 % for a month, +5.4 % for a year;

- Producer price index, excluding prices for foodstuffs and energy carriers in the USA for January. The forecast +0.3 % for a month, the previous value +0.1 % for a month, +1.7 % for a year.

And today the key release is the publication of preliminary value of University of Michigan Sentiment index in the USA for February at 14:45 GMT. We shall remind that the forecast is 92.5, and the previous value 91.5.

After a rough punishment of short-term speculators last Friday the market’s players think over trading decisions very attentively. As a result, if University of Michigan Sentiment index is weak we do not exclude significant correction against dollar.

This correction can lead dollar/franc rate to a level 1.3030-40, and dollar/Canadian rate - to a level 1.1510-20.

And in case of surprisingly strong value of the indicator - the dollar will most likely to proceed its rise to the nearest key purposes: 1.3190 - for dollar/franc, and 1.1635 - for dollar/Canadian.

However for opening long-term purchases the given levels are risky, and for strategic "longs" it is necessary to wait for more significant correction.

While it is necessary to remain outside of the market.