Despite publication of whole series of important indicators yesterday basic currency pairs continued trade in narrow ranges.

Let's remind that index of retails in the USA for March made + 0.7%, at forecast +0.4% and previous value +0.1% Retails ex-auto in the USA for March made +0.8%, at the forecast +0.8% and previous value -0.1%.

The value of main yesterday indicator - TICS data for February was above forecasts and previous value was revised upwardly.
Let's remind that the volume of purchases of American assets by foreign investors in February made +94.5 bln. dollars, previous value was revised from +74.6 to +79.6.

NY Empire State index in the USA for April made 3.8, at the forecast 9.9 and previous value 1.9.
Index of inventories in the USA for February made +0.3%, at the forecast +0.2% and previous value +0.2%.

After Friday summit the expectations of statements were not confirmed due to great drop in the yen rate and low level of interest rates in Japan keeps putting pressure on national currency yen again is in sales.
As a result yesterday the rate hiked by more than 200 points and reached 238.58, maximal for last two months. The euro/yen rate also reached yesterday new record high level 162.43 and confidently consolidated near this level.

Let's notice that today's American trading session is also rich in publications of important releases.
At 12:30 GMT there will be issued the following indicators:
- Consumer price index in the USA for March. Forecast +0.6% for a month, previous value +0.4% for a month, +2.4% for a year
- Consumer price index except for food and energy prices in the USA for March. Forecast +0.2% for a month, previous value +0.2% for a month, +2.7% for a year
- Housing starts in bln. in the USA for March. Forecast 1.500, previous value 1.525
- Building permits in bln. in the USA for March. Forecast 1.515, previous value 1.532.

Later at 13:15 GMT there will be issued other important indicators:
- Industrial production in the USA for March. Forecast +0.1%, previous value +1.0%
- Capacity utilization in the USA for March. Forecast 81.9, previous value 82.0.

We remind again that all basic currency pairs have already reached important levels of resistance and probability of dollar-favorable correction seems to us quite high.
We suggest today after publication of releases at 13:15 GMT be ready to medium-term purchases of dollar/franc and dollar/Canadian in case of their rise and overcoming of levels 1.2150 ? 1.1360 accordingly.
However for this moment there are no signals for the beginning of purchases, therefore we recommend to wait for publications being off the market.