So, though basic currency pairs are while in the limits of big day time ranges, however total negative around dollar and closeness of rates to top borders of ranges puts pressure on American currency.

Yesterday's American data influenced negatively on the rate of the American currency. ISM index in the USA for March made  50.9, at forecast 51.8, and previous value 52.3.

The majority of experts forecast that ECB will raise the rates by 0.25% in June. However at the same time majority of experts do not wait for further toughening till the beginning of next year.
As a whole according to long-term forecasts of leading economists ECB will leave the rate of refinancing without changes ay a level 4%, beginning since June and till the end of current year. Though some analysts forecast that the rate will exceed the level of 4% this year.
It is remarkable that most of economists who tend to assume that the probability of further increase is quite high. They suppose that the rate will rise by the middle of next year.
However there are experts, who are in a minority, assuming that next year ECB will begin to reduce rates.

Let's remind that last Saturday the member of ECB Governing council Bini Smagi declared that "European countries, which indicators are not quite high in the world of globalization, should look for reasons in the country and not blame others+"

However the main events of this week to which the market's attention is directed, are decisions on interest rates of reserve Banks of Australia and England, the main is publication of next survey of labor market in the USA.
On a background of expectations of increase of rates by Reserve bank of Australia and England up to 6.5% ? 5.5% accordingly the rate of Australian dollar/American dollar reached yesterday 0.8178, maximal since 1991. Experts point out that the Australian currency was supported by speculations about possible rise in interest rates at today's meeting.

It is also necessary to note that before Easter holidays investors' activity is quite low.
We forecast significant strengthening of the dollar rate the nearest days vs. all basic currencies. However as there are no particular signals of change of tendency we recommend to be off the market.