Euro slightly higher against the U.S. dollar after the data on the index of consumer confidence in the eurozone. The preliminary data that has been presented by the European Commission , this month confidence among euro area has continued to improve. However , experts warn that given the fact that the unemployment rate is still close to record highs , and wages rise more slowly than inflation , we can hardly wait for the sharp increase in costs.

According to the report , a preliminary index of consumer confidence in the euro area rose in September to the level of -14.9 , compared to -15.6 in August , reaching thus the highest level since July 2011 . It should be noted that the improvement in consumer confidence is observed from December 2012 and is a positive development for the currency area. Increased confidence was a factor in the growth of a small amount of consumer spending in the second quarter of this year, helping the economy to return to growth after the reduction , which lasted 18 months.

We also add that the focus of the market participants are widely expected elections in Germany , which will be held this Sunday. Preliminary surveys indicate the prospect of victory, Merkel's center-right party , however, all concerned with the issue of a coalition government. According to the latest Forschungsgruppe Wahlen, Merkel's conservative party won the support of 40 % of the vote , while its current coalition partner - the center-left Party of Free Democrats gained 5.5%. Potential change in the composition of the government is unlikely to significantly affect the policies of Germany, though many fear that the representation of the party " alternative for Germany " in parliament can influence the course of solving problems in the eurozone , for example, through the provision of additional aid to Greece .

It should be noted that in the course of trade and expectations affect performance of the president of the European Central Bank , Mario Draghi , scheduled for next week. At the moment , Draghi , unlike his colleagues Bernanke refrained from printing euros to buy back bonds .

The pound rose against the dollar earlier , which has helped to publish data on Britain. As it became known , the level of the budget deficit in the UK was slightly less than expected in August as government agencies cut back on spending , but official data showed very little evidence of economic recovery , which is reflected in the growth of tax revenues.

The Office for National Statistics said that public sector net borrowing , the budget deficit amounted to 13.2 billion pounds in August, compared with 14.4 billion pounds in the same month last year. Economists had forecast that borrowing would be at 13.5 billion pounds. It should be noted that the government is committed to ensure that the base deficit , which does not include transfers from the Royal Mail and the Bank of England, was not more than 120 billion pounds , or 7.5 percent of GDP this year . When the coalition led by the Conservatives came to power in May 2010 , the deficit was 11 percent of annual GDP.

In addition, the data showed that in the first five months of the current fiscal year, the base deficit was 46.8 billion pounds, while in 2012 over the same period the deficit reached 50.5 billion pounds.

Until recently, the weak economic growth is constrained by tax revenues and complicating government spending cap on social security. In fact, this has led to the fact that the process of deficit reduction slowed in the past year. Economists say the government is now easier to achieve their goals. Government revenues in April-August 2013 rose by 2.8 percent.

EUR/USD $1.3400, $1.3475, $1.3500, $1.3575

USD/JPY Y98.00, Y98.35, Y98.50, Y99.35, Y99.40, Y99.50, Y99.75, Y100.00, Y100.50, Y101.00

GBP/USD $1.5850, $1.6000, $1.6100, $1.6200

AUD/USD $0.9400, $0.9450, $0.9455, $0.9460, $0.9550

EUR/AUD A$1.4300

NZD/USD $0.8220, $0.8235, $0.8300

USD/CAD C$1.0175, C$1.0250, C$1.0325, C$1.0340, C$1.0380

Data

00:00 China Bank holiday

03:00 New Zealand Credit Card Spending August -0.3% +1.2%

04:00 Japan BOJ Governor Haruhiko Kuroda Speaks

08:30 United Kingdom PSNB, bln August -1.6 11.9 11.5

The euro exchange rate fell slightly against the dollar, but in spite of this, still trading near seven-month high in anticipation of today's publication of macroeconomic data in the euro area. According to the median forecast of economists consumer confidence in Europe will be the highest for the past two years, m grow , probably to minus 14.5 in September from minus 15.6 in the previous month . Experts also predict output growth in the Euro- region, the third consecutive month.

We also add that the focus of the market participants are widely expected elections in Germany , which will be held this Sunday. Preliminary surveys indicate the prospect of victory, Merkel's center-right party , however, all concerned with the issue of a coalition government. According to the latest Forschungsgruppe Wahlen, Merkel's conservative party won the support of 40 % of the vote , while its current coalition partner - the center-left Party of Free Democrats gained 5.5%. Potential change in the composition of the government is unlikely to significantly affect the policies of Germany, though many fear that the representation of the party " alternative for Germany " in parliament can influence the course of solving problems in the eurozone , for example, through the provision of additional aid to Greece .

It should be noted that in the course of trade and expectations affect performance of the president of the European Central Bank , Mario Draghi , scheduled for next week. At the moment , Draghi , unlike his colleagues Bernanke refrained from printing euros to buy back bonds .

The pound rose against the dollar , thus restoring all the previously lost positions , which has helped to publish data on Britain. As it became known , the level of the budget deficit in the UK was slightly less than expected in August as government agencies cut back on spending , but official data showed very little evidence of economic recovery , which is reflected in the growth of tax revenues.

The Office for National Statistics said that public sector net borrowing , the budget deficit amounted to 13.2 billion pounds in August, compared with 14.4 billion pounds in the same month last year. Economists had forecast that borrowing would be at 13.5 billion pounds. It should be noted that the government is committed to ensure that the base deficit , which does not include transfers from the Royal Mail and the Bank of England, was not more than 120 billion pounds , or 7.5 percent of GDP this year . When the coalition led by the Conservatives came to power in May 2010 , the deficit was 11 percent of annual GDP.

In addition, the data showed that in the first five months of the current fiscal year, the base deficit was 46.8 billion pounds, while in 2012 over the same period the deficit reached 50.5 billion pounds.

Until recently, the weak economic growth is constrained by tax revenues and complicating government spending cap on social security. In fact, this has led to the fact that the process of deficit reduction slowed in the past year. Economists say the government is now easier to achieve their goals. Government revenues in April-August 2013 rose by 2.8 percent.

EUR / USD: during the European session, the pair fell to $ 1.3507

GBP / USD: during the European session, the pair fell from $ 1.6065 to $ 1.6015

USD / JPY: during the European session, the pair rose to Y99.62

At 12:30 GMT Canada will release the consumer price index and core consumer price index from the Bank of Canada in August. At 14:00 GMT Eurozone will present indicator of consumer confidence for September.

EUR/USD

Offers $1.3650/60, $1.3600, $1.3570/80, $1.3563

Bids $1.3510/00, $1.3490/80, $1.3455/50, $1.3410/00, $1.3385/80

GBP/USD

Offers $1.6235, $1.6200, $1.6170/80, $1.6145/50, $1.6090/100, $1.6075/80

Bids $1.6022, $1.6005/995, $1.5980, $1.5960/50

AUD/USD

Offers $0.9600, $0.9570/80, $0.9540/50, $0.9525/30, $0.9500, $0.9480

Bids $0.9420, $0.9400, $0.9395/90, $0.9350

EUR/GBP

Offers stg0.8550/55, stg0.8520, stg0.8460/65, stg0.8440/50, stg0.8441

Bids stg0.8400, stg0.8355/50, stg0.8320, stg0.8300

EUR/JPY

Offers Y136.90/7.00, Y136.20/30, Y135.50/60, Y135.00

Bids Y134.20/10, Y133.95, Y133.00-2.95, Y132.60/50, Y132.00, Y131.60

USD/JPY

Offers Y100.80, Y100.60/65, Y100.20/50, Y99.90/0.00, Y99.60/65

Bids Y99.00/8.80, Y98.60, Y98.25/20, Y98.10/00

EUR/USD $1.3400, $1.3475, $1.3500, $1.3575

USD/JPY Y98.00, Y98.35, Y98.50, Y99.35, Y99.40, Y99.50, Y99.75, Y100.00, Y100.50, Y101.00

GBP/USD $1.5850, $1.6000, $1.6100, $1.6200

AUD/USD $0.9400, $0.9450, $0.9455, $0.9460, $0.9550

EUR/AUD A$1.4300

NZD/USD $0.8220, $0.8235, $0.8300

USD/CAD C$1.0175, C$1.0250, C$1.0325, C$1.0340, C$1.0380

00:00 China Bank holiday

03:00 New Zealand Credit Card Spending August -0.3% +1.2%

04:00 Japan BOJ Governor Haruhiko Kuroda Speaks

The euro was near a seven-month high before data forecast to show consumer confidence was the strongest in more than two years in the 17-nation currency bloc and manufacturing expanded for a third month. An index of household confidence in the countries that share the euro probably rose to minus 14.5 in September, the highest level since July 2011, from minus 15.6 in the previous month, according to the median estimate of economists surveyed by Bloomberg News before the European Commission releases its preliminary reading today.

The shared currency traded 0.4 percent from an almost four-year high versus the yen before European Central Bank President Mario Draghi speaks next week. Draghi has refrained from printing euros to buy bonds, the opposite strategy to the Fed, which decided to maintain monthly asset purchases at $85 billion at a two-day meeting ended Sept. 18.

Kansas City Fed President Esther George, Minneapolis Fed President Narayana Kocherlakota, and St. Louis Fed President James Bullard will separately give speeches today. George dissented for the sixth Federal Open Market Committee meeting in a row this week, repeating that the policy risks creating financial imbalances.

The yen was poised for weekly losses against 15 of its 16 major peers. Bank of Japan Governor Haruhiko Kuroda said today policy makers will continue to take appropriate action in conducting monetary policy.

EUR / USD: during the Asian session the pair traded in the range of $ 1.3525-40

GBP / USD: during the Asian session, the pair traded in the range of $ 1.6025-45

USD / JPY: during the Asian session the pair traded in the range of Y99.15-55

There is data expected on both sides of the Atlantic Friday, but the day's main events come later, when Fed FOMC members speak. The European data calendar gets underway at 0645GMT, when the French second quarter employment data will be released. At 0800GMT, the Italian June and July industrial orders data will cross the wires. At 1400GMT, the September flash consumer confidence data will cross the wires. Analysts are looking for a reading of -14.5, up modestly from August's -15.6. Later, at 2200GMT, EU Economics and Monetary Affairs Commissioner Olli Rehn will give a speech at Columbia University, in New York.

The UK data starts at 0830GMT, with the release of the BOE External Claims on UK MFIs and the August Public Finances Data will be published. Although the burgeoning economic recovery has not done much to reduce the borrowing figures, August's public finances data may finally start to show some improvement following the pick-up in activity. The deficit is likely to have remained high, however.

(pare/closed(00:00 GMT +02:00)/change, %)

EUR/USD $1,3528 +0,15%

GBP/USD $1,6029 -0,67%

USD/CHF Chf0,9107 -0,27%

USD/JPY Y99,41 +1,28%

EUR/JPY Y134,52 +1,42%

GBP/JPY Y159,32 +0,61%

AUD/USD $0,9440 -0,57%

NZD/USD $0,8381 +0,45%

USD/CAD C$1,0265 +0,37%

00:00 China Bank holiday

03:00 New Zealand Credit Card Spending August -0.3% +1.2%

04:00 Japan BOJ Governor Haruhiko Kuroda Speaks

08:30 United Kingdom PSNB, bln August -1.6 11.9

12:30 Canada Bank of Canada Consumer Price Index Core, y/y August +1.4% +1.2%

12:30 Canada Consumer Price Index m / m August +0.1% +0.1%

12:30 Canada Consumer price index, y/y August +1.3% +1.1%

12:30 Canada Bank of Canada Consumer Price Index Core, m/m August 0.0% +0.1%

14:00 Eurozone Consumer Confidence September -15.6 -14.5

14:45 United Kingdom MPC Member Weale Speaks

16:30 U.S. FOMC Member Esther George Speaks

16:40 U.S. FOMC Member Tarullo Speaks

16:55 U.S. FOMC Member James Bullard Speaks