Friday fundamental data over the USA and consolidation of the oil market have a little suspended dollar falling.

According to ISM index rates of growth in service sector of the USA grew in February as consumer and corporate expenses stimulated the basic part of economy.

ISM index in service sector, including financial services, construction and retail sales companies, rose up to 60.1 against 56.8 in January. The indicator above 50 means expansion.

The companies of service sector reap profit from stronger economic growth after consumer expenses in January grew maximally for six months, and volumes of equipment sales increased. The greater number of workplaces and growing incomes can lead to the fastest rates of economic growth for more than two years this quarter.

University of Michigan Consumer Sentiment Index showed small falling of the US consumer sentiment.

The index decreased to 86.7 against 87.4 at the beginning of month. It was at a level of 91.2 in January.

Economists forecast small increase of the index up to 87.7. The index of current conditions has dipped to 105.6 against 107.7 at the beginning of the month and 110.3 in January.

The index of expectations improved up to 74.5 against 74.4 and 78.9 in January.

However, small reduction of preliminary value of consumer sentiment index could not affect essentially the dollar exchange rate.

April oil futures, having closed at a level $63,7 for barrel on Friday in NYMEX, achieved a technical level of resistance after week rise.

At Asian tenders oil prices dropped at tenders in Asia before two important meetings, which take place this week in Vienna, - one is devoted to Iranian nuclear program, another - to quotas for OPEC oil production. At 3-00 Gr. oil light sweet with delivery in April traded with downturn on $0.41 up to $63.26 against a mark $63.67 on Friday closing in NYMEX.

Analysts expect that OPEC will keep a current level of industrial quotas at a level of 28 million barrels a day despite some disagreement among OPEC members.

This week the market expects a number of key events on the US fundamental indicators.

One of the most significant is expected at the end of a week.

On Friday the Employment report of the Bureau of Labor Statistics, U.S. Department of Labor takes place. Data will be issued at 8:30 a.m. ET, at 16-30 Moscow time.

These are rather important market indicators, having the supreme degree of importance A of financial news.

The report includes 4 indicators:

Average Workweek

Hourly Earnings

Nonfarm Payrolls - employment level - number of workplaces, except for agriculture.

Unemployment Rate - a percentage rate of unemployment.

Indicators Nonfarm Payrolls and Unemployment Rate are especially important. The increase the of the first and reduction of the last - supports the dollar and on the contrary reduction of the first indicator and increase of the second - put pressure upon the dollar.

Analysts forecast insignificant reduction of number of workplaces on 3000 up to 200000 and increase of inflation percent on 0,1 % up to 4,8 % in February, 2006 against the previous indicators for January, 2006.

Tomorrow the US manufacture report takes place.

On Tuesday the Productivity and Costs report of the Bureau of Labor Statistics of the Department of Labor for the 3 quarter 2005.

This index shows the total level of productivity in all branches of economy except for agricultural sector. The second component of Cost index shows structure of expenses per unit,  including costs for remuneration of labor. The ratio of productivity and hourly payment is an indirect indicator of a rate of inflation and a degree of possible influence of inflationary pressure on economy. Moreover this index is a leading indicator to GDP data for 3 quarter of 2005, which release is expected on December, 21st, that also can give information for GDP rise forecasting.

Technical picture. After a splash of activity at the end of the last week the uptrend on euro determined the first top, being consolidated near a resistance line of 1,2070. It is most likely that before a new growth the trend will determine correction approximately to a level of 1,1950. Yet it is not necessary to hurry up with opening new positions – you should wait for correction and to pay attention to the market’s reaction to fundamental news.