Next data were issued:

08:30 UK ILO Jobless rate (3 months through May) 5.4% 5.3%

08:30 UK Average earnings (3 months through May) г/г 4.1% 4.4%

08:30 UK Claimant count rate (June) 3.0% 3.0% 3.0%

08:30 UK Claimant count (June) +5.9K +5.8К

09:00 EU GDP (Q1) revised, y/y 2.0% 1.9% 1.9%

09:00 EU GDP (Q1) revised 0.9% 0.6% 0.6%

The yen dropped the most against the dollar on EU session and fell versus the euro as fears weakened the BoJ will raise interest rates more than once this year. Japan's Finance Minister Sadakazu Tanigaki said there's ``no need'' for the BoJ to raise borrowing costs. Two days before the analysts believed BoJ is likely to lift its benchmark rate for the first time in 6 years.

Britain data promoted to decrease of the pound. The number of people claiming jobless benefits climbed in June to its highest levels since January 2002.

Average wages including bonuses grew in March-May more than analysts expected. Acceleration of wage’s growth is a signal of inflation pressure.

EU GDP in Q1 2006 justified forecasts. At the same time Eurocommission said it expects EU GDP growth 0.4-0.8% q/q in Q2 2006, 0.3-0.7% - in Q3 and 0.5-0.1 – in Q4.

As a whole, Eurocommission awaits GDP growth on 2.1% q/q in 2006. However this week EU officials don’t exclude the increase in September.

EUR/USD fell after consolidation in a range $1.2755/70. As a result session low was established $1.2711. Bids placed here were the reason of rising to $1.2730. Then the rate stabilized in a range $1.2720/30.

GBP/USD fell from $1.8480 to $1.8380. Before U.S. session the rate stabilized in area $1.8390/1.8400.

USD/JPY started to rise after consolidation in a range Y114.20/40. As a result the rate overcame Y115.00 and established high Y115.20. Rebound didn’t follow. Before U.S. session the rate stabilized near highs.

Main news will be the U.S. Trade Balance (US Total Trade Balance US Total Trade Balance (last 5 years)). Analysts predict deficit increase. News will be accompanied by high volatile, however, if the result will justify forecasts, the currencies will remain in former ranges.