Yesterday the dollar could keep from falling, and today even became stronger in the beginning of the European session on a background of positive data on the consumer market of the USA and falling of oil prices.

According to the US Department of Commerce the last month both personal incomes and personal consumption of Americans grew, growth of incomes showed the three-monthly maximum. That demonstrates high consumer capacity of the American home market, that in turn will help to soften consequences of decrease in rates of economic growth.

Growth of nominal expenses made 0,1 % that is the minimal parameter for last 10 months however analysts note that the positive moment is that the basic volume of expenses of Americans fell to durable goods.

The real income increased 0.8 % that is maximal value since September of the last year when growth of incomes was caused by insurance payments and indemnity after hurricane Catherine. If to exclude similar special cases, September parameter showed the maximal gain almost for 3 years.

In conditions of rise of incomes advancing growth of expenses, the rate of personal savings improved up to a level -0.2 % that became the best parameter for more than a year.

The net index of personal consumer expenses (???) – was up 0.2 % in September according to forecasts. As a result an annual gain of the parameter made 2.4 % against 2.5 % in August.

The dollar received unexpected support from oil market. Yesterday, December oil futures on NYMEX again were closed at levels near an annual minimum - almost at a level $58 a barrel.

Oil decreased after statements of OPEC secretary general about probable reduction in oil demand in 2007 and that in this connection probably further decrease in daytime quotas on oil production. He also noted essential reduction in oil demand in current 2006, that caused drop in crude oil production by OPEC by 1,2 billion barrels a day.

He also said that at the next summit of the countries of members of world oil cartel in the middle of December the question on the further reduction of production quotas would be raised.

Today the issue one more key index - index of Chicago Purchasing Managers Association - PMI is expected.

Alongside with indexes of federal banks of New York and Philadelphia it is one of the first reviews of business activity in sphere of manufacture for last month.

As a rule, they anticipate an issue of federal data on production - the report of Department of Commerce - ISM index. Analysts assume reduction of business activity on this index up to 58 points against 62,1 - September values.

Besides there is expected the issue of consumer sentiment index of independent analytical organization The Conference Board. According to analysts’ forecasts consumer sentiment of Americans should show growth up to 107,8 points against 104,5 points of September values.

While positions of dollar and the European currencies are poised. For the beginning of active actions there are not observed powerful arguments, therefore we remain outside the market.