The European currencies supported by positive key economic news over the countries of Europe, continue to be volatile near historical tops.

The volume of orders in Eurozone industry in May was up 1,7 % m/m and 9,1 % y/y, Eurostat agency informed.

Economists forecast that factory orders in Eurozone in May should have increased by 1,5 % in comparison with the last month and y 7,9 % in comparison with the same period of the last year.

Growth of orders should confirm a proceeding economic rise, and it raises probability of the further increase of interest rates this year. April data were revised up to -0,6 % m/m, +11,8 % y/y. Earlier it was informed that orders dipped by 0,4 % compared with the last month and grew by 12,2 % in comparison with the same period of the last year.

Economic rise in Germany will proceed, it will be promoted by growth of home demand and a good situation with foreign trade. German institute of economic researches DIW informed on it on Tuesday. According to the forecast of institute growth of German economy in 2007 will be greater than expected earlier.

However in absence of special significant news over the USA the market does not risk to set for euro and pound so bulls forces on these currencies while are not enough to press strong levels of resistance.

While we remain outside the market.