Today as well as yesterday the dollar keeps being under pressure.

FRS report on volumes of consumer crediting caused the next wave of dollar sales. Yesterday's report showed unexpected reduction of volumes of loans of common Americans. This is the first reduction in these parameters since March and the lowest value from the beginning of year and till today.

According to data of Federal Reserve System, in September volumes of crediting of Americans for consumer needs decreased 0,6 % in comparison with the same period last year. In real figures crediting dropped $1,2 billion in September to $2,37 bln. In August volume of crediting grew $9,1.

However, reduction of the total consumer debt became ambiguous as consumers increased debts on the credit cards while paid the loans provided by cars and other large goods, excepting the real estate.

Positions of two central banks - ECB and FRS, continue influence on the market moods at world stock exchanges not in favor of dollar. In opinion of leading analytical agencies if ECB is ready to lift rates up to the end of this year by 0,25 % for FRS it is most likely that 2 year period of the rate increase comes to an end and probably so long period of stabilization of the rate at a former level begins.

Today statement of Chicago FRB Head Michael Moskow is expected, the market will expect additional signals and hints on FRS position concerning rates for the near future.

Thus, break in rates will reduce, that will be the supporting factor for euro against dollar. We remind now a ratio of rates - 5,25 % FRS and 3,25 % ECB.

According to Eurostat information rise of retail sales of PMI was observed in all 12 leading EU countries 12 that supports ECB determination to raise rates again, not being afraid to put pressure upon growth of production.

PMI grew adjusted for seasonal variations up to 52,8 points against 52,4 points in September. Growth of costs on the retail goods can help economy to cope with increase of rates and delay of rates of growth in the USA, the largest trading partner of Europe.

On elections in the USA during which 200 million Americans had the opportunity to re-elect members of the House of Representatives, third of structure of the Senate and 36 of 50 governors, polling districts were closed. The first at 6 one o'clock in the evening on local time east two states-Indiana and Kentucky finished voting.

The inhabitants of Alaska voted the last.

According to the American broadcasting companies Democrats won the majority of voices on elections in the lower chamber of the Congress, and madam Pelosi becomes its speaker - the third party in the USA.

The victory of Democrats on elections of the USA can put pressure upon dollar as Democrats traditionally adherents of expansion of social programs that will affect additional pressure upon the budget and growth of taxes, and also many political analysts do not exclude initiation by Democrats of impeachment to the present US president Bush.

Oil market also put pressure upon dollar positions against the basic currencies, oil price exceeded a mark of $60 a barrel. After the OPEC leading countries including Saudi Arabia as the largest oil supplier in structure of the international cartel, declared that in December can lower oil deliveries to the world market.

Rise in oil prices was also promoted by a sharp cold snap in northeast of the USA and an attack on oil constructions in Nigeria.

Today the market will watch an issue of week EIA report on oil stocks, it is expected that oil stocks will increase by 2,0 million barrels.

After splash in dollar purchases on Friday on a background of a positive of Employment data in the USA, market moods continue to develop against dollar, however while the market does not give the confident signals for entering the game, while we remain outside the market.