Yesterday dollar could not find support on decrease of probability of that the next drop in rates can happen not at October, but at December FRS meeting. As a result the euro/dollar rate renewed its growth and reached a level of 1.4173 at the American session.

In experts’ opinion the main reason of the kept pressure upon dollar is an expectation of that the Federal reserve system of the USA will anyhow continue reduction of the basic interest rates till the end of current year.

Another event, which as a result, corresponded with expectations of the majority of experts, became a decision of Governing Council of Bank of Japan to leave without change the overnight rate at a level of 0.50 %. Eight of nine members of Governing Council of Bank of Japan voted for the given decision.

Let's remind, according to the report of Bank of Japan published today, there is a smooth increase in rates of growth of a national economy. However, in spite of the fact that the consumer price index is still at a zero level, experts of bank predict increase in the indicator.

The current account in bln. yens in Japan made 2.080 for August, and the trade balance in bln. yens in Japan for August made 0.892. Thus the index of money supply in Japan for September made +1.7 % for a year, at the previous value of +1.8 % for a year.

The index of orders in the field of mechanical engineering in Japan for August made -7.7 % for a month, -2.6 % for a year, at the previous value of +17.0 % for a month, +8.0 % for a year.

As a result, economists drew a conclusion that the Bank of Japan at the nearest meetings does not plan to raise the rate which level is one of the lowest. As a result the tendency of decrease in yen rate against all basic currencies and first of all, against currencies with higher level of interest rates, again renewed.

The euro/yen rate rose almost by 100 points, from a level 165.52 up to 166.48 and pound/yen rate grew up to a level 239.63, having added 115 points.

Let's remind that today in schedule of publications there are planned at once several important economic parameters. At 12:30 GMT there are key data for today - trade balance of the USA for August. We remind that the forecast of value of the indicator is equal to -58.5 billion dollars and the previous value was -59.2.

Let's notice that on a background of reduction of deficit in trade in oil, cars and means of production, economists also expect the general decrease in deficit of trade balance of the USA.

Let's also remind that October value of import price index in the USA was -0.3 % and export price index - +0.2 %.

At the same time jobless claims in the USA for a week by 06.10 will be also issued. We remind that the forecast of this parameter is equal to 315 thousand, and the previous value was equaled 317 thousand. In this report experts also expect some improvement of value.

In the end of trading session in the USA, at 18:00 GMT the federal budget for September will be published. The forecast of value is +105.0 billion dollars, and the previous value was -117.0 billion dollars.

We suppose that observable growth of the European currencies now can be finishing movement before deep correction in favor of the American dollar. We recommend, being outside the market, to start to consider signals on sale of euro, pound and franc which can most likely appear after the publication of the above-stated releases, during the tenders at the American session.

Besides the probability of decrease in yen cross-rates, which also can begin already tonight, has increased. If today cross-rate remains steady their correction will be realized tomorrow.