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Action Insight Market Overview	Markets Snapshot
Daily Report: Kiwi Pared Gains after Employment Data and RBNZ Wheeler Comments on Intervention New Zealand dollar pares back much of this week's gain after disappointing job data and comments from RBNZ governor Wheeler. New Zealand employment rose more than expected by 0.9% qoq in Q1 versus consensus of 0.6% qoq while Q4's figure was revised down from 1.1% qoq to 1.0% qoq. However, unemployment rate was unchanged at 6.0% versus consensus of a fall to 5.8%. That's due to improvement in participation rate, which rose to record of 69.3% in Q1, comparing to Q4's 68.9%. Some economists argued while the job market would continue to grow, the supply of labor would also be growing too. And as a result, improvement in unemployment rate would only be gradual this year. Full Report Here...
Featured Technical Report
EUR/GBP Daily Outlook Daily Pivots: (S1) 0.8189; (P) 0.8208; (R1) 0.8222; More... EUR/GBP is staying above 0.8193 and intraday bias remains neutral. With 0.8258 resistance intact, fall from 0.8399 is expected to continue and below 0.8193 will target 0.8157 key support level. The cross is staying inside medium term falling channel and decisive break of 0.8157 will carry larger bearish implications. On the upside, break of 0.8258 will indicate completion of the fall from 0.8399 and will bring rebound back to 0.8309 first. 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	Unemployment Rate Q1	6.00%	5.80%	6.00%
22:45	NZD	Employment Change Q/Q Q1	0.90%	0.60%	1.10%	1.00%
23:01	GBP	BRC Shop Price Index Y/Y Apr	-1.40%		-1.70%
23:50	JPY	BoJ Minutes
1:30	AUD	Retail sales M/M Mar	0.10%	0.40%	0.20%	0.30%
5:45	CHF	Unemployment Rate Apr		3.20%	3.20%
6:00	EUR	German Factory Orders M/M Mar		0.30%	0.60%
7:00	CHF	Foreign Currency Reserves Apr			437.9B
12:30	CAD	Building Permits M/M Mar		3.90%	-11.60%
12:30	USD	Non-Farm Productivity Q1 P		-0.90%	1.80%
12:30	USD	Unit Labor Costs Q1 P		2.30%	-0.10%
14:30	USD	Crude Oil Inventories			1.7M

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency continued to head north and offers and stops at 1.3940-50 were filled, however, sell orders are still noted at 1.3975, followed by mixture of offers and stops in good size at 1.4000-10. On the downside, bids are raised to 1.3900-10, 1.3875-85 and 1.3850, more buy orders are tipped at 1.3825-35, mixture of bids and stops remains at 1.3800, more buy orders are expected at 1.3775 and 1.3750-60 (more stops below both levels).

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Forex Trade Ideas

Trade Idea: EUR/GBP - Hold long entered at 0.8220

The single currency has slipped again today and indicated support at 0.8191 needs to hold to retain our near term bullishness for another rebound to take place later this week, above 0.8233-35 resistance would bring test of last week's high of 0.8259, break there would suggest low is possibly formed, bring at least a retracement of recent fall to 0.8283-85 but break of resistance at 0.8310-15 is needed to signal recent decline has ended

Trade Idea: USD/CAD - Sell at 1.0930

Current selloff signals the rebound from 1.0858 has ended at 1.1053 and downside bias is seen for a retest of said support, however, break there is needed to signal recent fall from 1.1279 has resumed for at least a stronger retracement of early upmove for further weakness to 1.0800, then towards 1.0730-40 (50% Fibonacci retracement of 1.0190-1.1279) but reckon near term oversold condition would limit downside to 1.0690-00