On Friday trade the basic activity of players shifted to cross-rates. So, the euro/yen rate rose up to a mark 149.84. And the pound/yen rate reached a level 223.75, maximal for the last one and a half month.

Let's remind that a yen rate is under significant pressure of a low level of the basic interest rates in Japan.

Besides the yen rate decreased on Friday under influence of the statement of Northern Korea about readiness for war and possible continuation of nuclear tests.

In opinion of many experts in the market there was a concern about threat from Northern Korea. Players worry that if rockets are directed to Japan it will lead to sale of the national currency.

Thus rates of the basic currencies have not changed practically. So, the euro/dollar rate was established about a level 1.2620, the pound/dollar rate was stabilized above a mark 1.8800.

The attention of the market’s participants is already directed to the next FOMC meeting, which takes place next week. Though the majority of economists do not expect change of a level of interest rates in the USA, however in the market there are various forecasts.

On Friday the British pound strengthened its positions, supported by positive data. We remind that preliminary value of GDP index in Great Britain made +0.7 % for a quarter, +2.8 % for a year for the third quarter, at the forecast of +0.7 % for a quarter, +2.7 % for a year, and the previous value of +0.7 % for a quarter, +2.6 % for a year.

As a result annual value of the parameter was better than the forecast and is maximal from third quarter, 2004 that testifies to higher rates of economic growth in comparison with the last year.

A rate of the European currency is under pressure of the statement of Minister of Economics of Germany Gloss that the European central bank does not hurry to raise interest rates in the region owing to a low rate of inflation in Germany.

"From the point of view of Germany, there is not especial haste. But future will show", - Reuters agency quoted his statement at press conference. Besides Minister of Economics of Germany added that new forecasts of economic growth were cautious.

And the index of retail sales in Italy made +0.1 % for a month, +2.0 % for a year for August, at the forecast of +0.1 % for a month, and previous value of +0.3 % for a month, +1.1 % for a year.

Among news over the Eurozone it is necessary to note increase by the German government of the forecast of economic growth this and next years.

As it is predicted gross domestic product of the country in 2006 will grow 2.3% and in 2007 - 1.4%. Earlier the Ministry of Economics expected growth of gross domestic product by 1.6% and 1.0%, accordingly.

The situation in energy market continues to influence greatly on the financial markets. So disbelief of players that OPEC members will really reduce production by 1.2 million barrels a day as it was agreed in the end of the last week, led to that oil quotations continued reduction on Friday.

Oil prices lost already 25 % from the record level $78.40 a barrel, reached on July, 14th. Their further decrease - the extremely undesirable script for the states-OPEC members.

on Friday Minister of Economics of Germany Gloss declared that on a background of a low rate of inflation in Germany the European central bank will not hurry up to raise interest rates.

This decision was sounded by minister of a petroleum industry of United Arab Emirates Mohamed Al- Khami, who becomes the President of the cartel in 2007.