Rally on dollar on Friday continued, the euro broke out an annual maximum 1,3.

On Friday the euro was supported by data on the second on the importance after Germany economy in Europe - over France, on business moods.

The state Office of statistics of France Insee has informed today that the index of moods among 2000 manufacturers remained at a level 107 against the revised October parameter 107. The parameter reached the maximal level since March, 2001 - 109 in April.

As a whole drop in energy prices affects favorably economic growth of Europe that gives support to euro.

Influence on euro growth against dollar renders also that fact that 2 years cycle of increase of FRS rate seems to stop, whereas ECB rates as analysts predict, can be raised at least three times in the near future.

Approach of euro to historical tops starts to cause anxiety of the European manufacturers. Though up to an absolute maximum of the price of 1,36 dollars for euro there are 600 points, analysts starts to make forecasts: what there will be further - if price is at this level of resistance. Two years ago, when the price came closely to these critical marks, Europe was on a threshold of a panic because of sharp rise in export price that led to slump in production and reduction of jobs.

However, we remind that so sharp breaks of euro happened on a background of the thin market. We remind this week the new monthly cycle of an issue of fundamental data over the USA begins - the first are indexes of business moods - ISM and Chicago PMI and data of the market of the real estate.

It is necessary to note especially data on GDP dynamics. The Gross Domestic Product (GDP) is the most important criterion of economic activities. For annual value, data are published every quarter. And quarterly reports are released three times in each month following accounting quarter.

The first two are preliminary values and the third one is a final value. GDP calculation includes data on consumption, volume of investments, net-export, governmental purchases, inventories. In addition to this GDP calculation includes chain deflator, which brings correction in accounting prices, proceeding from inflation.

The market, as a rule, traces very sensitively this market indicator, positive data on GDP dynamics in the USA, always influence positively on the dollar. The first preliminary value of this index is expected.

It is quite probable that if these data are at a level of forecasts we can observe correction of uptrend on euro. Therefore yet it is not necessary to hurry up with opening of positions.