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Action Insight Market Overview	Markets Snapshot
Daily Report: Euro Remains Weak on Policy Expectation, Sterling Watches BoE Inflation Report The Japanese yen, Euro and Swiss Franc remain the weakest currency this week so far. Euro continues to feel the pressure from expectation that ECB would ease further policy in June and fresh selling was seen yesterday. That was triggered by reports that Bundesbank, the most hawkish member of ECB, is willing to support further easing and that could have cleared an important hurdle for ECB president Draghi. Markets seem to be pricing in a done deal and the question is now on what "package" of stimulus measures would be adopted. That could include negative rates or even quantitative easing. ECB officials comments would be scrutinize heavily, in particular, German Bundesbank Weidmann will speak later today. Full Report Here...
Featured Technical Report
EUR/GBP Daily Outlook Daily Pivots: (S1) 0.8127; (P) 0.8150; (R1) 0.8166; More... EUR/GBP's decline continued and met 61.8% projection of 0.8584 to 0.8157 from 0.8399 at 0.8135 already. Intraday bias remains on the downside and current fall should extend to 100% projection at 0.7972 next. On the upside, break of 0.8197 resistance is needed to signal short term bottoming. Otherwise, outlook will stay bearish in case of recovery. Read more... EURUSD Technical Outlook USDJPY Technical Outlook GBPUSD Technical Outlook USDCHF Technical Outlook USDCAD Technical Outlook AUDUSD Technical Outlook EURJPY Technical Outlook EURGBP Technical Outlook EURCHF Technical Outlook GBPJPY Technical Outlook

Economic Indicators Update

GMT	Ccy	Events	Actual	Consensus	Previous	Revised
22:45	NZD	Retail Sales Q/Q Q1	0.70%	0.90%	1.20%	1.40%
23:50	JPY	Domestic CGPI Y/Y Apr	4.10%	4.00%	1.70%
6:00	EUR	German CPI M/M Apr F		-0.20%	-0.20%
6:00	EUR	German CPI Y/Y Apr F		1.30%	1.30%
6:00	JPY	Machine Tool Orders Y/Y Apr P			41.80%
8:30	GBP	ILO Unemployment Rate 3M Mar		6.80%	6.90%
8:30	GBP	Claimant Count Rate Apr		3.30%	3.40%
8:30	GBP	Jobless Claims Change Apr		-30.0K	-30.4K
9:00	CHF	ZEW (Expectations) May			7
9:00	EUR	Eurozone Industrial Production M/M Mar		-0.30%	0.20%
9:30	GBP	BoE Inflation Report
12:30	USD	PPI M/M Apr		0.20%	0.50%
12:30	USD	PPI Y/Y Apr		1.70%	1.40%
12:30	USD	PPI Core M/M Apr		0.20%	0.60%
12:30	USD	PPI Core Y/Y Apr		1.40%	1.40%
14:30	USD	Crude Oil Inventories			-1.8M

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency slipped again in European session, bids at 1.3745-50, 1.3735 and 1.3710-20 together with stops below 1.3700 were cleared, however, fresh demand is tipped at 1.3685 and further out at 1.3650-60. On the upside, offers are now seen at 1.3745-55 and in good size at 1.3780-85 (stops above), more sell orders are expected at 1.3800-05 (stops above), 1.3825-35 and 1.3850, selling interest is likely to emerge further out at 1.3875, 1.3900 and 1.3935.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.8190

The single currency has remained under pressure after breaking previous support at 0.8158, suggesting recent decline is still in progress and recent selloff is now unfolding as (a)-(b)-(c)-(x)-(a)-(b)-(c) with wave (x) ended at 0.8400, hence the 2nd wave (a) is in progress for further weakness to 0.8120-30 and possibly towards 0.8100, however, oversold condition should limit downside to 0.8080 and reckon 0.8050 would hold from here, bring rebound later.

Trade Idea: USD/CAD - Sell at 1.0955

Although the greenback has retreated after intra-day brief rise to 1.0926, reckon downside would be limited to 1.0875 and near term upside risk remains for the rebound from last week's low of 1.0814 to bring retracement of recent decline to 1.0950-60, however, reckon upside would be limited to 1.0985-90 and resistance at 1.1006 should cap upside and bring another decline later. A break of said support would extend the decline from 1.1279 (wave iii top) for a stronger correction of early upmove to 1.0800, then towards 1.0730-40