Despite weak Friday fundamental data over the USA and pressure of the oil market, led to correction of a dollar trend, bulls on the European currencies could not find arguments for the massed sales of dollar.

And today's fundamental data over the European Union put pressure upon euro and pound sterling. On preliminary seasonably adjusted Eurostat’s data, in December the foreign trade balance of Eurozone registered deficit equal to 2.4 billion euro while November results have been revised to a little increase of proficiency (up to +800 million euro from +100 million).

As German Association of Employers Head Diter Hundt informed today, restoration of German economy remained unstable and stability of uptrend is in doubt.

Sharp reduction of export in France caused drop in economic activity in the 4 quarter of 2005. According to Insee data the preliminary seasonably adjusted results of gross domestic product made the 4 quarter of. 2005, preliminary GDP: +0.2 % q/q, +1.2 % y/y.

Business investments into means of production also slowed down its growth a little (+1.0 % against +1.4 % in 3 quarter). Households’ investments were up +0.5 % against preliminary +0.4%, and the state investments remained at a former level of +0.8 %. As a result the total volume of investments was up 0.7 % after +1.1 % in 3 quarter, having added 0.1 % to the general indicator of gross domestic product.

The oil prices hiked at tenders in Asia on a background of anxiety about intensity in Nigeria which can lead to stocks reduction, according to dealers. At 3-00 GMT New York basic March contracts light sweet rose up to $60.92 for barrel.

Partisans-separatists declared yesterday about an opportunity of the further attacks after the attack at weekend when Royal Dutch Shell had to reduce the fifth part of oil export. A worsening situation "can potentially raise the oil prices again to highs in a range of $60.00”, Sucden analyst told. The world oil markets have vacant capacity of about 1.5 million barrels a day, according to market analysts.

It is not enough to compensate full production closing in Nigeria, which made 2.4 million barrels a day last month.

However not all is so bad in the market of hydrocarbons, there is a hope that the problem of Iran will cease to be irritating factor for the oil market.

Iran and Russia "consented on the bases of a general formula" at bilateral consultations in Moscow. The Head of Iranian delegation Ali Hoseini-Tash said about it today in an interview to the state Iranian TV, ITAR-TASS transfers.

The offer of creation of joint venture on uranium enrichment in a territory of the Russian Federation was discussed at negotiations in Moscow.

One more political player on the Iranian problem – China enters into closer relations with Iran.

Teheran and Peking discuss the conclusion of the long-term agreement on deliveries of the Iranian energy carriers to China for the sum of $100 billion.

Discussion of the transaction, which provides deliveries of oil and natural gas, and also cooperation of two countries in development of petrochemistry, took place in Iranian resort on the Keshm island, in Ormuz Strait. "World Tribute" notices that the western diplomatic sources in Teheran come to a conclusion that Iran becomes the largest energy supplier to the Chinese market.

Business-manager of the state Iranian energy company "Petropars" Goam-Reza Manuchehri told after end of discussion that China is already the largest partner of Iran in development of its energy resources, and called to transmit the Chinese technology to his country.

The situation has changed a little since yesterday. Potential of a correction to a level 1,2040 remains in force. As a whole the situation can is estimated as neutral - that is exchange rates are poised within the limits of a currency corridor 1,1850-1,1925 on euro. At lack of powerful data for euro rise it is quite probable that the prices will again enter this sideways. While it is necessary to remain outside of the market.