Euro quotations to dollar the second day in a row are consolidated at new historical levels.
Ben Bernanke's forthcoming speech at the Congress is in the center of attention of the market. Chairman of FRS Governing Council emphasized several times that the Federal Reserve is more concerned by a rate of inflation than falling of the economic growth, caused by crisis in sphere of the market of the real estate.
As market analysts consider on Wednesday in statement to Financial Committee of Congress Bernanke will give proofs of this position. Except for this report there will be a new forecast of economic rise, a rate of inflation and a condition of the labour market in second half of current year.

Ben Bernanke's hard line concerning rates of federal funds can support dollar.

Data on inflation of Germany helped dollar to keep against euro. According to consumer price indexes inflation remains within the limits of controllable levels.

Consumer prices in Germany were up 0,1 % in June concerning May and 1,8 % against May of the last year, according to data of statistics. Data were in line with preliminary ones, published on June, 28th, and economists' forecasts.

The consumer price index except for energy and motor fuel prices grew by 1,9 %. In May consumer price index increased by 0,2 % in comparison with the last month and by 1,9 % in comparison with the same period of the last year.

Food and beverage prices rose by 1,9 % in comparison with the same period of the last year. It was promoted by the rise in price for fruit by 3,8 % and a rise in prices for soft drinks, which made 2,8 %.
The harmonized consumer price index was not revised and made 2,0 % y/y, +0,1 % m/m.

As a whole market moods remain against dollar. Tomorrow there is expected a number of key news over the USA - on production, inflationary indexes and data on investments volume. If the general tonality of these news is negative nothing can keep euro within the limits of a level 1,38.