So, preferring to take profit on the opened dollar “longs” last week before long days off today market’s participants on weak jobless claims in the USA they preferred active purchases of European currencies against the dollar.

Let’s remind that the dollar vs. basic currencies began to decrease yesterday at the European session. The rate of American currency was under pressure of growing oil quotations, exceeding $60 a barrel at tenders in New York and also growing rates of precious metals.

Besides, the dollar was under pressure of drop in dollar/yen and dollar/Canadian dollar. Let’s remind that drop in dollar/yen rate was caused by closing of short positions on yen despite weak economic data in Japan before tomorrow’s day off in Japan and the USA.

The euro vs. dollar is supported by rise of euro vs. yen, which in turn is supported by investment funds, selling Japanese yen for the currencies with higher interest rates.

Let’s notice that index of factory orders in Europe (12) for September though was in a negative area, however, was better than the expectations. Let’s remind that the value of the indicator made -1.3% for a month, +7.6% for a year at the forecast -1.8% for a month, +10.4% for a year. And the previous value was revised from 3.7% up to +3.8% for a month.

On a background of current thinness of the market even small volumes of trading operations in the market lead to sharp and significant fluctuations of the exchange rates.

That was confirmed after the publication of jobless claims in the USA for a week by 18.11. let’s remind that the value of the indicator made 321 thousand at the forecast 309 thousand. And the previous value was revised from 308 thousand up to 309 thousand.

As a result the dollar was in active sales, and their intensity increased after the publication of the final value of University of Michigan Consumer Sentiment Index in the USA for October, which made 92.1 at the forecast 92.3, and previous value 92.3.

Opening of sales from current levels seems a little bit out-of-date and risky, as probability of recoil of the rates is quite high. Therefore we recommend on the dollar/franc rate to open long-term sales from 1.2355 and in case of the further rise of the rate – to increase these shorts from 1.2430.

On dollar/Canadian it is necessary to open sales from 1.1420 and to strengthen them (in case of continuation of rise of the pair) from 1.1445.

And the purposes of sales of both rates are at 1.2050 ? 1.1350   accordingly.