The European currencies continue to lose in weight against the dollar on a background of weak data on Eurozone.

Industrial production in Eurozone in April fell by 0,8 % m/m and grew by 2,8 % compared with April, 2006, Eurostat informed.

Economists expected that industrial production in April would show growth by 0,2 % m/m and by 4,3 % y/y.

Data for March were revised to + 0,5 % m/m and by 4,0 % y/y. Earlier it was informed that monthly production growth made 0,4 %, and annual rise - 3,7 %. The greatest drop in production in April was noticed in Germany and Ireland though polls of the companies’ moods pointed out a good situation in the industry this month.

According to Eurostat in Germany production was down 2,3 % in comparison with March, and in Ireland - down 3,3 %. In France and Italy production decreased by 0,8 %. Energy production was up 0,5 % in comparison with the last month after growth by 0,3 % in March.

In February and January energy production was reduced by 0,2 % and by 3,5 % accordingly. Production of durable goods fell by 1,6 %, and production of the intermediate goods - by 1,4 %. Production of capital goods dipped by 0,9 %, and production of nondurable goods - by 0,8 %.

The issue of the whole block of important economic news over the United States is expected today, first of all it is the report of Department of Commerce for May on retails and is export - import prices.

Eurodollar quotations broke out a strong level of support - a level 1,3270, and approached a level 1,3250, in case of issue of weak data over the USA it is possible strong recoil from these levels.