The dollar fell against major currencies after data on the U.S. housing market. Fed Chairman Bernanke's speech last week contained a reference to the housing market as the main reason for the reduction is expected to start stimulating the economy. Therefore, an unexpected drop in June, the pace of home sales in the secondary market support the feeling that the reduction in the Fed's stimulus may not start as fast as expected in the markets.

Sales in the secondary market in June fell, but remained at a level consistent with a strong housing market. Meanwhile, prices continued to rise, as stocks remained low. This is evidenced by a report published on Monday by the National Association of Realtors (NAR). It reported sales of existing homes in June fell by 1.2% compared to the previous month and adjusted for seasonal variations were 5.08 million homes for a year. However, it is the second highest level of sales since November 2009. May's value, which was revised a slight decrease, to 5.14 houses per year with 5.18 homes per year - the highest level since November 2009. Compared with the same period of the previous year, sales in June rose by 15.2%.

The euro has increased markedly against the dollar against the outcome of the meeting the leaders of the Twenties. We note that the European market will benefit from the agreement and the weakening of Big Twenty China controls key interest rates, as the country is facing a slowdown. Representatives of the G20 finance meeting in Moscow agreed on the concentration of the overall effort to increase the number of jobs in the "twenty". They also agreed on the general principles for achieving further economic growth. This is stated in a communiqué following the meeting. Ministers agreed advised leaders of the countries included in the financial G20, to mobilize all the resources needed to create more jobs. According to representatives of the "financial Twenty" in the light of this issue requires an "elaborate, comprehensive and consistent government policy."

The meeting in Moscow agreed to give special attention to monetary policy, in particular, to explain to each other any change and innovation.

"Financial twenty" has agreed to refrain from further devaluation of currencies. Representatives of the 19 economies of the various countries and the European Union have decided to give up on the changes in exchange rate manipulation. The participants of the financial G20 also called for the early ratification of the new distribution system of quotas and votes IMF. Finance ministers and central banks expect that the IMF and the World Bank by October already prepared a first proposal to update the guidelines on the management of public debt. Financial component G20 supported the development of small and medium-sized businesses to national economies. According to participants, this process helps to maintain the balance between labor demand and supply.

The yen has stabilized against the dollar, after substantial growth. Note that early strengthening currency helped win the ruling coalition in the elections to the upper house of Japan's parliament. According to the results of the elections will end on Sunday, she managed to get 135 out of 242 seats, the results published on the official website of the elections. Elections to the House of Councillors take place every three years, subject to re-election of half of the 242 members of the House for a period of six years. Over 121 parliamentary mandate in this election fought 433 candidates from nine parties. The ruling coalition of the Liberal Democratic Party and "Komeito" in this election managed to get 76 seats in the upper house, in addition to the 59 deputies, who did not stand for reelection this year, provides it with 135 seats - 14 votes more than necessary to obtain a majority. The Liberal Democratic Party won 65 seats in the election, the party "Komeito" - 11. The opposition Democratic Party of Japan won in this election 17 seats, "Party All" and the Communist Party received 8 seats, the party of the "Association of the restoration of Japan" - 8, Socialist Party - one seat, independent candidates won three seats. Given the mandate of the 121, which is not re-elected this time, the ruling coalition is owned 135 seats, the opposition - 107.

The Australian dollar rose against the U.S. dollar, after it became known that China has taken the first step on the way to the final liberalization of interest rates, the withdrawal of the lower limit of interest rates on bank loans. The long-awaited reform of the interest rates have been announced by the Central Bank of China. The decision to abolish the minimum level of interest rates on bank loans entered into force on 20 July 2013. At the same time, the People's Bank of China has kept the official "ceiling" for rates on bank deposits, indicating that the relaxation of controls on interest rates on deposits - a risky process and should be carried out gradually. Currently, Chinese banks are allowed to issue commercial loans at the rate of not more than 70% of the interest rates of the Central Bank on annual credits. Because now the base rate for loans is 6%, the minimum level of interest rates on bank loans is 4.2%. The refusal of a minimum level of interest rates on loans have become more competitive interest rates on bank loans. In general, the Chinese government declared goal is to provide the conditions under which the "market forces will play a major role in the allocation of capital."

EUR/USD $1.2930, $1.3000, $1.3050, $1.3110, $1.3300

USD/JPY Y98.50, Y99.00, Y99.80, Y100.00, Y101.00, Y101.25, Y101.25, Y102.00, Y102.35

GBP/USD $1.5100, $1.5230, $1.5235

EUR/GBP stg0.8525

EUR/CHF Chf1.2380

AUD/USD $0.9150, $0.9200, $0.9210

EUR/AUD A$1.4165

USD/CAD C$1.0500

Data

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The euro exchange rate against the dollar has increased markedly, though lost some positions previously earned. We note that the European market will benefit from the agreement and the weakening of Big Twenty China controls key interest rates, as the country is facing a slowdown.

Representatives of the G20 finance meeting in Moscow agreed on the concentration of the overall effort to increase the number of jobs in the "twenty". They also agreed on the general principles for achieving further economic growth. This is stated in a communiqué following the meeting.

Ministers agreed advised leaders of the countries included in the financial G20, to mobilize all the resources needed to create more jobs.

According to representatives of the "financial Twenty" in the light of this issue requires an "elaborate, comprehensive and consistent government policy."

The meeting in Moscow agreed to give special attention to monetary policy, in particular, to explain to each other any change and innovation.

"Financial twenty" has agreed to refrain from further devaluation of currencies. Representatives of the 19 economies of the various countries and the European Union have decided to give up on the changes in exchange rate manipulation.

The participants of the financial G20 also called for the early ratification of the new distribution system of quotas and votes IMF. Finance ministers and central banks expect that the IMF and the World Bank by October already prepared a first proposal to update the guidelines on the management of public debt.

Financial component G20 supported the development of small and medium-sized businesses to national economies. According to participants, this process helps to maintain the balance between labor demand and supply.

In addition, we add that today the attention of traders focused on the U.S. reports, particularly on the index of manufacturing activity and the Federal Reserve Bank of Chicago existing home sales. According to consensus estimates, the index will remain in the flat, and sales will rise to the level of 5.27 million units.

The yen has stabilized against the dollar, after substantial growth. Note that early strengthening currency helped win the ruling coalition in the elections to the upper house of Japan's parliament. According to the results of the elections will end on Sunday, she managed to get 135 out of 242 seats, the results published on the official website of the elections.

Elections to the House of Councillors take place every three years, subject to re-election of half of the 242 members of the House for a period of six years. Over 121 parliamentary mandate in this election fought 433 candidates from nine parties.

The ruling coalition of the Liberal Democratic Party and "Komeito" in this election managed to get 76 seats in the upper house, in addition to the 59 deputies, who did not stand for reelection this year, provides it with 135 seats - 14 votes more than necessary to obtain a majority.

The Liberal Democratic Party won 65 seats in the election, the party "Komeito" - 11. The opposition Democratic Party of Japan won in this election 17 seats, "Party All" and the Communist Party received 8 seats, the party of the "Association of the restoration of Japan" - 8, Socialist Party - one seat, independent candidates won three seats. Given the mandate of the 121, which is not re-elected this time, the ruling coalition is owned 135 seats, the opposition - 107.

The Australian dollar rose against the U.S. dollar, after it became known that China has taken the first step on the way to the final liberalization of interest rates, the withdrawal of the lower limit of interest rates on bank loans. The long-awaited reform of the interest rates have been announced by the Central Bank of China. The decision to abolish the minimum level of interest rates on bank loans entered into force on 20 July 2013.

At the same time, the People's Bank of China has kept the official "ceiling" for rates on bank deposits, indicating that the relaxation of controls on interest rates on deposits - a risky process and should be carried out gradually. Currently, Chinese banks are allowed to issue commercial loans at the rate of not more than 70% of the interest rates of the Central Bank on annual credits. Because now the base rate for loans is 6%, the minimum level of interest rates on bank loans is 4.2%.

The refusal of a minimum level of interest rates on loans have become more competitive interest rates on bank loans. In general, the Chinese government declared goal is to provide the conditions under which the "market forces will play a major role in the allocation of capital."

EUR / USD: during the European session, the pair rose to $ 1.3192, but then fell to $ 1.3164

GBP / USD: during the European session, the pair rose to $ 1.5340

USD / JPY: during the European session, the pair is trading in a narrow range

At 14:00 GMT the United States will announce the amount of sales in the secondary market in June.

EUR/USD

Offers $1.3250/60, $1.3225/30, $1.3200/10, $1.3191

Bids $1.3125/20, $1.3100, $1.3080, $1.3065, $1.3055/50, $1.3020

GBP/USD

Offers $1.5395/400, $1.5370/80, $1.5340/50

Bids $1.5280, $1.5250/40, $1.5220, $1.5205/00, $1.5185/80, $1.5160/50, $1.5145/40, $1.5130/20

AUD/USD

Offers $0.9305, $0.9300, $0.9275/80, $0.9240/50, $0.9230/35

Bids $0.9155/50, $0.9140, $0.9120, $0.9110/00, $0.9050

EUR/GBP

Offers stg0.8740/45, stg0.8700, stg0.8675/80, stg0.8645/55, stg0.8625/30

Bids stg0.8590, stg0.8575/65, stg0.8550

EUR/JPY

Offers Y133.00, Y132.50, Y132.25, Y131.95/00

Bids Y131.20/15, Y131.00, Y130.80, Y130.55/50, Y130.10/00

USD/JPY

Offers Y101.50, Y101.00, Y100.85/90, Y100.73, Y100.35/40, Y99.93

Bids Y99.61/56, Y99.55/50, Y99.25/20, Y99.00, Y98.80

EUR/USD $1.2930, $1.3000, $1.3050, $1.3110, $1.3300

USD/JPY Y98.50, Y99.00, Y99.80, Y100.00, Y101.00, Y101.25, Y101.25, Y102.00, Y102.35

GBP/USD $1.5100, $1.5230, $1.5235

EUR/GBP stg0.8525

EUR/CHF Chf1.2380

AUD/USD $0.9150, $0.9200, $0.9210

EUR/AUD A$1.4165

USD/CAD C$1.0500

The yen rose against most major peers after Japan’s ruling party failed to win an independent majority in upper-house elections and as traders speculated on Prime Minister Shinzo Abe’s ability to push through reforms. Abe’s Liberal Democratic Party and its New Komeito ally will have a majority of at least 133 in the 242-seat upper house, according to estimates by state broadcaster NHK. The LDP has controlled the lower house since elections in December.

The greenback held a weekly decline against the euro as Pacific Investment Management Co.’s Bill Gross said he expects the Federal Reserve won’t tighten policy before 2016. “So bonds come out of their coffin and it’s not even Halloween,” Gross, who manages Pimco’s $268 billion Total Return Fund, said in his posting on Twitter. “Bernanke says follow policy rate and we agree.”

Australia’s dollar climbed after officials in China, the South Pacific nation’s biggest trading partner, moved to scrap a rule that had constrained bank lending.

EUR / USD: during the Asian session the pair rose to $ 1.3170

GBP / USD: during the Asian session the pair rose to $ 1.5296

USD / JPY: during the Asian session the pair fell to Y99.60

Weekend reports out of the eurozone were centered mostly on problems in the peripheral economies and the G20 meeting which ended Saturday but none of which contained any major surprises.

12:30 U.S. Chicago Federal National Activity Index June -0.3 0.0

14:00 U.S. Existing Home Sales June 5.18 5.27