Players do not hurry up with opening of strategic positions. The market is consolidated before the important reports on the US gross domestic product for the 4 quarter.

Let's remind that the publication of preliminary data on Gross Domestic Product for 4 quarter 2005 of the Bureau of Economic Analysis, U.S. Department of Commerce takes place today.

Besides the same source will publish data on GDP Chain Deflator (preliminary data), which shows the inflation rate and brings correlation to GDP accounting prices, proceeding from inflation.

The market expects the moderate growth of this indicator. In the second preliminary value of gross domestic product there is expected higher estimation of economic growth. From 1,1 % of growth on the preliminary data, published on January, 27th, up to 1,6 % of the expected growth.

This optimism is based on growth recovery of sales of means of production in the 4 quarter and consumer confidence recovery, after losses of the US economy, caused by series of hurricanes at the beginning of autumn of the last year. Analysts connect drop in a gain of gross domestic product in the 4 quarter with this period. Data on business investments, which poise the US trading deficit, has caused the optimism. The economic growth remains stable despite some risks of inflation.

Yesterday sharp reduction of oil prices supported the dollar. Yesterday oil futures Light were closed with downturn on 1,2 % in NYMEX to $60,8 for barrel. The reason was huge energy stocks in the USA, and also successful prevention of act of terrorism in Saudi Arabia where attempt of explosion of the largest oil-refinery was made.

The yesterday's news background over the USA was neutral. New home sales for January “played” against dollar. New home sales in the USA were down 5 % to annual value of 1.233 million in January, a minimum for a year, according to the report of the US Department of Commerce.

New home sales in the market were up 2.5 % to a top of 528,000. These are monthly stocks, maximal for 9 years. Sales in December were revised upwardly to 1.298 million against 1.269 million earlier. For 2005 new home sales were up 6.6 % to a record value of 1.285 million

Economists forecast that home sales would remain at a former level nearby 1.27 million in January, according to MarketWatch survey, assuming that warm weather this month might have kept the indicator from reduction. The average home price was up 6.7 % y/y up to $238,100, that is in line with the average price in 2005.

On the other hand these data have been poised by data on industrial indexes of Dallas Federal Reserve Bank for February:

- new orders index in sector of manufacturing industry Dallas FRB 38.7 against 34.4 in January

-research of manufacturing industry of Dallas FRB 32.8 against 35.5 in January

- paid prices index in sector of manufacturing industry of Dallas FRB 41.9 against 50 in January.

Morning data in France have supported euro:

Consumer sentiment index in France in February showed growth the third straight month according to the national statistical agency. In February consumer sentiment index rose up to -24 from -27 in January. In November the index reached a minimum -33.

Economists forecast that in February the index would remain without changes at a level -27. Data show that consumer expenses, which were the main motive power of French economy last years, will remain high the nearest months. In January the unemployment rate made 9,6 % in comparison with 9,5 % the last month and with 10,1 % in January, 2005.

Before the release of the US GDP data the quotation is quoted in a narrow price corridor.

GDP data are not the only key news of this week.

This week the whole series of indicators on sales, production and consumer confidence is expected.

However the basic tone of week will be set today.

Dollar positions remain strong therefore yesterday's recommendations hold good.