The review of the currency markets for a week:

The euro has renewed growth against the basic competitors after the publication of stronger in comparison with report expectations at the prices of manufacturers of Germany, gamble concerning continuation of restoration of the largest economy of region became result of that.
In October of the price of manufacturers in Germany have grown in comparison with last year on 4.3 % after strengthening on 3.9 % in September. Economists expected indicator growth at level of 4.1 %.
The given fact not only testifies that manufacturers start to shift a rise in prices for raw materials and energy carriers on end users that is possible in the conditions of final demand strengthening, but also speaks well for validity undertaken ЕЦБ actions on turning of stimulating measures within the limits of the monetary policy.
Let's note, nevertheless, that a major factor of support of uniform currency there are expectations that the help which Ireland of EU intends to render and IMF will promote prevention of distribution of a new wave of debt crisis on an euro area.

Operating the central bank of Ireland Patrick Honohan expects that the help package, cost in "ten billions" euro will help to rescue the bank system of the country which have suffered from recession in the market of real estate. We will remind that the day before official representatives of EU of m of IMF have started to study the bank reporting.
Thus, obvious progress concerning granting of EU and IMF of a package of loans for Ireland has lowered uncertainty, has supported mood of the markets and has made positive impact on euro. Under the unchecked data the plan of the help from the EC/MVF most likely will be presented the country next week.

Британский the pound sterling has grown after the publication of the inflationary data of Britain which have appeared above forecasts. According to statistics, the consumer price index has grown in Britain on 3.2 % г/г in October that above the forecast of analysts in 2.7 % and threshold value of the central bank in 3 %. However sterling growth carried a temporality and a course has soon receded.

The yen and dollar have become stronger against the basic countercurrencies after China has taken measures on struggle against inflation, having undermined thus demand for currencies adhered to global growth. As it became known, the central bank of China since November, 29th will raise reserve requirements for commercial banks on 50 б.п. It has put pressure upon the share and commodity markets and has supported to yen.

Pressure upon yen was rendered by the publication of the positive economic data from Asia. The published data has fixed growth of gross national product of Japan in 3rd quarter on 3,9 % at forecasts of +2,5 %. Other report has shown industrial production decrease in Japan on 1,6 %, thus average forecasts of analysts made-1,9 %.