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Action Insight Market Overview	Markets Snapshot
Daily Report: Euro Maintains Post ECB losses, UK Production and Canada Jobs in Focus Euro was sold off sharply after ECB press conference yesterday and stays weak in Asian session today. The ECB made another dovish statement in May and indicated that additional stimulus measures would likely arrive in June. The central bank noted that the path of inflation was not satisfactory and reiterated that the strength of the euro was a concern. We expect the ECB to cut the main refinancing rates at its June meeting. It might also launch a targeted liquidity injection in order to supporting bank lending. Full Report Here...
Featured Technical Report
USD/CHF Daily Outlook Daily Pivots: (S1) 0.8733; (P) 0.8769; (R1) 0.8835; More... USD/CHF spiked lower to 0.8702 but rebounded strong ahead of 0.8698 support. The development suggests that sideway trading from 0.8698 is still in progress and has possibly started the third leg. Intraday bias is mildly on the upside for 0.8861 resistance first. Break will target 0.8952. On the downside, below 0.8765 will turn bias back to the downside for 0.8698 instead. 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
1:30	CNY	PPI Y/Y Apr	-2.00%	-1.80%	-2.30%
1:30	CNY	CPI Y/Y Apr	1.80%	2.10%	2.40%
1:30	AUD	RBA Monetary Policy Statement
5:00	JPY	Leading Index Mar P	106.5	106.9	108.9
6:00	EUR	German Trade Balance (EUR) Mar		16.9B	16.3B
8:30	GBP	Visible Trade Balance (GBP) Mar		-9.0B	-9.1B
8:30	GBP	Industrial Production M/M Mar		-0.20%	0.90%
8:30	GBP	Industrial Production Y/Y Mar		2.40%	2.70%
8:30	GBP	Manufacturing Production M/M Mar		0.30%	1.00%
8:30	GBP	Manufacturing Production Y/Y Mar		2.90%	3.80%
12:30	CAD	Net Change in Employment Apr		14.9K	42.9K
12:30	CAD	Unemployment Rate Apr		6.90%	6.90%
14:00	GBP	NIESR GDP Estimate Apr			0.90%
14:00	USD	Wholesale Inventories Mar		0.50%	0.50%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: Although the single currency rose briefly to 1.3993, euro faltered right below psychological resistance at 1.4000 and reversed south as ECB's Draghi signaled that the central bank is ready to take action in June, all bids indicated at 1.3900-05, 1.3875-85 and 1.3850 were tripped, stops below 1.3840-45 are in focus, more stops are placed below 1.3800-10. On the upside, offers are lined up at 1.3880-90 and 1.3910-20, more sell orders are tipped at 1.3940-50 and further out at 1.3990-00 with stops expected above barrier at 1.4000.

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Forex Trade Ideas

Trade Idea Wrap-up: USD/CHF - Buy at 0.8750

Although the greenback fell sharply to 0.8703, as dollar has reversed intra-day fall after holding above recent low of 0.8699, suggesting low is formed at 0.8703 and consolidation with upside bias is seen for gain to 0.8800, then towards 0.8841 but only break of indicated resistance at 0.8851-56 would turn outlook bullish for the rise from 0.8699 to bring test of 0.8862, then towards 0.8880.

Trade Idea Wrap-up: USD/JPY - Sell at 102.15

Although dollar has retreated after meeting resistance just above 102.00 level and retest of this week's low of 101.43 cannot be ruled out, indicated strong support at 101.20-21 remains pivotal and the greenback needs to penetrate this level to retain bearishness and signal early decline from 105.44 (2014 high) has resumed for further fall to 101.00, then retest of 100.76