So, according to dealers, yesterday's trade was on a background of significant decrease in volumes of trading operations. It is connected with the beginning of long days off in Japan (celebrating of "Gold week") till the beginning of the next week, and also forthcoming today and tomorrow statements of heads of two largest world Central Banks.

Let's remind that FRS Head Ben Bernanke by his the unexpected comments last days led the market to significant movements. We shall remind that Bernanke’s words about a possible pause after May increase of rates have led a rate of the American currency to acceleration of its falling. However the subsequent refusal of his words about a possible pause in rate increase could not help the dollar to restore noticeably.

For this reason, expecting today's statement of FRS Head, participants of the market hope that he will clear up his position. However, that fact that dollar correction after more accurate definitions of FRS head’s position was rather limited, confirms once again the market’s general negative attitude to the American currency.

Another important event next week will be tomorrow's promulgation of ECB meeting decision on rates, and also the subsequent instruction, giving deeper penetration into prospects of foreign exchange policy.

Let's notice that players will watch closely whether there will be mentioned about strong growth of euro, which happened since previous session. We shall remind that the majority of analysts, despite recent strong economic data over Europe (12), forecast that the level of the interest rate on Thursday remains constant.

The reason of such forecast are last comments of ECB Head Trichet, who told that rates in May would not be raised. Moreover Trichet obviously underestimated value of strong data in region.

Commenting on last positive data Trichet noticed: "We look only at trend dynamics. We are not keen on volatile data irrespective of weak or strong".

Besides the market’s participants would like to know opinion of ECB head concerning a rise in oil prices. We shall remind that since ECB last meeting on a background of fears of breaks of deliveries from Iran, and also nationalization of gas and oil-producing branches in Bolivia, oil has again reached new record tops at a level of 74 dollars for barrel. So yesterday the oil price in New York was up 0.60 dollars to a level 74.30 dollars for barrel.

Many analysts, paying attention to a current picture of economic indicators, and also last aggressive statements of officials of Eurozone, assume that ECB Governing Council members headed by Jean-Claude Trichet have every reason to remain positive concerning economic prospects, raising rates not only in June, but also at least two times this year.

The statement of one of ECB Governing Council members last week Nicolas Garganas was rather significant: "Financial markets should expect much increase of the interest rate as they are at historically low levels in Eurozone".

And, concerning a question of inflation influence on Central Banks decisions, Garganas has declared: "I have said it before and I will say again. ECB will react immediately as soon as inflationary pressure threatens price stability".

However, as we have already stated in the previous comments, key event of week becomes Friday review of the US labor market for April. Data of this review will lead the market for a long-felt correction of the dollar, or will accelerate the American currency decline.

Taking into account importance of events of second half of current week, and also absence of correction in favor of dollar, we suggest to keep a waiting position.

We remind that only after realization of the given correction there are possible new sales of dollar/franc and dollar/canadian rates.