Today the European Central Bank kept rates at a former level, as it was expected by the market, at a level of 4,0 % per annum.

At press-conference which was held after meeting of Governing Council of the European bank ECB Head Jean-Claude Trichet, commenting on the decision on the rate, declared that in spite of the fact that risks of delay of economic growth of the Eurozone are kept, risks of that inflation can run away the controllable corridor, remain prevailing. Besides forecasts of economic development for 2008 confirm calculations, according to which GDP of the countries entering the European Union will be close to potential.

Analysts noted that in his comments Trichet did not point out that ECB monetary policy remained stimulating. That can mean that ECB heads were not so rigid in comparison with the previous meetings of Governing Council and that under influence of the European governments of the EU basic countries, dissatisfied by hike in euro, will hardly increase the rate, at least, in the end of this and in the beginning of the next year.

As a whole the economists surveyed by Reuters, do not expect changes of the interest rate in Eurozone in 2008 on a background of that economic activity and trust, will most likely be under negative pressure of slowdown in the markets, toughening of conditions of crediting and euro strengthening.

Thus, the difference in ECB and FRS rates remains at a minimum level. There is a high probability of that the Federal Reserve will decrease the federal funds rate up to the end of this year. Therefore the tendency of dollar reduction against euro is kept and will hold good at least the nearest half a year.

Dollar received the additional negative impulse and essential enough, after the publication of data about factory orders for August. The volume of orders in the USA in August dipped by 3, 3 % whereas the market expected decrease by 2,8 % vs. rise by 3,4 % in July.

While the situation remains uncertain. The market expects tomorrow's Employment report in the USA for September. In this report indicators Nonfarm Payrolls and Unemployment Rate are especially important. The increase the in the first and reduction of the last – support the dollar and on the contrary reduction of the first parameter and increase in the second - put pressure upon dollar.

Analysts expect growth of payrolls up to 100 000 according to data for September against reduction in August to -4 000.

It is possible to recommend tomorrow on issue of this news:

Shorts on euro and pound sterling if Nonfarm Payrolls are better than predicted values, and Unemployment Rate is at a former level or decreases.

Longs on euro and pound sterling if Nonfarm Payrolls are worse than the previous values, and Unemployment Rate is at a former level or increases.

If Nonfarm Payrolls are in a range better than the previous data, but below expectations, or Unemployment Rate - is in the contradiction with data on NP we remain outside the market.

On opened position the profit was fixed on profit stop at a level of 1,4099 dollars for euro.