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Action Insight Market Overview	Markets Snapshot
Daily Report: Aussie Lower after RBA Minutes, UK Inflation Watched Aussie weakens mildly today after RBA minutes showed that interest rates will likely be on hold in the foreseeable future. It note that "given this outlook for the economy and the significant degree of monetary stimulus already in place to support economic activity, the board judged that the current accommodative stance of policy was likely to be appropriate for some time yet." The central bank said that pace of growth will likely be "a little below trend" for the rest of the year. There will be "substantial falls in mining investment, "below-average growth of public demand" and subdued non-mining investment. Regarding the exchange change, RBA reiterated that it remained high by historical standards. Full Report Here...
Featured Technical Report
GBP/JPY Daily Outlook Daily Pivots: (S1) 172.67; (P) 172.97; (R1) 173.21; More..... GBP/JPY turned sideway ahead of 173.46 resistance. But with 172.53 support intact, further rise is expected. Current rise from 169.53 could extend further to 174.84 key resistance. At this point, we'd remain cautious on strong resistance from there to bring reversal to extend the medium term sideway pattern. Below 172.53 minor support will turn bias back to the downside for 170.95 support. However, decisive break of 174.84 will confirm resumption of larger up trend. 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	Consensus	Previous
01:30	AUD	RBA Minutes
05:45	CHF	SECO Economic Forecasts
07:15	CHF	Producer and Import Prices M/M May	0.10%	-0.30%
07:15	CHF	Producer and Import Prices Y/Y May	-0.80%	-1.20%
08:30	GBP	CPI M/M May	0.20%	0.40%
08:30	GBP	CPI Y/Y May	1.70%	1.80%
08:30	GBP	Core CPI Y/Y May	1.70%	2.00%
08:30	GBP	RPI Y/Y May	2.50%	2.50%
08:30	GBP	RPI M/M May	0.20%	0.40%
08:30	GBP	PPI - Input M/M May	0.20%	-1.10%
08:30	GBP	PPI - Input Y/Y May	-4.10%	-5.50%
08:30	GBP	PPI - Output M/M May	0.20%	0.00%
08:30	GBP	PPI - Output Y/Y May	0.80%	0.60%
08:30	GBP	PPI Core Output M/M May	0.10%	0.00%
08:30	GBP	PPI Core Output Y/Y May	1.10%	1.00%
09:00	EUR	German ZEW Economic Sentiment Jun	35	33.1
09:00	EUR	German ZEW Current Situation Jun	62.6	62.1
09:00	EUR	Eurozone ZEW Economic Sentiment Jun	59.6	55.2
12:30	USD	CPI M/M May	0.20%	0.30%
12:30	USD	CPI Y/Y May	2.00%	2.00%
12:30	USD	CPI Core M/M May	0.20%	0.20%
12:30	USD	CPI Core Y/Y May	1.80%	1.80%
12:30	USD	Housing Starts M/M May	1.034M	1.072M
12:30	USD	Building Permits M/M May	1.075M	1.080M

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency found decent demand just above last week's low of 1.3512 and has rebounded quite strongly, offers at 1.3560 were filled but sell orders are still noted at 1.3580-85 and 1.3600-10, more selling interest is tipped at 1.3625 and 1.3640-50, some sellers are expected further out at 1.3665-75 and 1.3680-1.3700 area. On the downside, bids are raised to 1.3530 and in good size at 1.3500-10 with sizeable stops building up below 1.3500, more buying interest is located at 1.3475 and 1.3450, fresh demand should emerge further out at 1.3435 and 1.3400-20 area.

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Forex Trade Ideas

Trade Idea: USD/CAD - Hold short entered at 1.0920

As the greenback has remained under pressure after dropping from 1.0960, retaining our bearishness for early decline to resume after consolidation, below support at 1.0814 would indicate the c leg of wave iv is in progress and extend the decline from 1.1279 (wave iii top) for a stronger correction of early upmove to 1.0800, then towards 1.0730-40 (50% Fibonacci retracement of 1.0190-1.1279), however, reckon downside would be limited to 1.0690-00

Trade Idea Wrap-up: GBP/USD - Sell at 1.7040 or Buy at 1.6890

As cable has maintained a firm undertone after intra-day breach of psychological resistance at 1.7000, suggesting recent upmove is still in progress and may extend further gain towards previous resistance at 1.7044 (2009 high), however, loss of near term upward momentum should limit upside to 1.7050-60 and bring retreat later. Below 1.6940-45 would suggest top is possibly formed