At the end of the last week dollar bulls again prevail over the trading session. As a whole the euro lost against the dollar almost 100 points.

After publication of fundamental news over the USA the dollar got good support.

First of all investors precieved positively news on retail sales, which were published by the US Department of Commerce.

According to the Department the general indicator of the sales decreased 0,4% in September against rise 0,1% in August. However, purchases exluding petroleum grew 0.6% as consumers spent much on clothes, building materials and furniture.

According to analysts retail sales in the USA in September dropped maximally for three months that is a result of falling of petroleum prices that helped to stimulate costs on other categories. So investors percieved the report positively as a sign of reviving of consumer market and shift of consumption into real sectors of economy.

Data of the same source on import and export prices in the USA showed rise of home prices on import goods and also ratio of import and export prices that is one of indicators of inflation rise in the country. And it in turn warms the market’s expectation of increase of FRS rate at the next FOMC meeting, which takes place in the end of current month.

The dollar was supported after publication of data, which demonstrated rise of consumer sentiment in the USA.

Consumer confidence in the USA hiked above forecasts as petroleum prices fell and stock markets show growth, pointing out that costs can rise before season of holidays.

The preliminary value of Univercity of Michgan sentiment grew 92.3 vs. 85,4 in September, that was maximal since July, 2005. The rise was caused by increased optimism concerning current condition of economy.

The rise can help to support consumer costs, which are responsible for 70% of economic rise, even despite that the housing market shows colling economists say. Falling of petroleum prices up to 8-months lows, gives to Americans additional means for expenses.

The dollar approaches to a stong level of support, bottom level of sideways on euro – line 1,2475. However, the nearest time the dollar can test a serious pressure from the world oil market. This week OPEC meeting takes place, where there will be discussed  a question of reduction of daytime quota on oil production. According to RIA Novosty:”Now it is high time to undertake something, - OPEC Presidnet Edmund Daukoru said. – It is silly to wait while we will be at the level of $10”. However, he emphasized that drop in production volumes is a temporary measure.

Technically the dollar comes to a key level of support, from which there is probable serious technical correction, aslo at approaching of FOMC meeting investors’ activity will most likely fall, therefore while to be off the market.