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Action Insight Market Overview	Markets Snapshot
Daily Report: BoE Minutes and FOMC Rate Decision in Focus Today Dollar remains mixed as markets awaiting FOMC rate decision today. The dollar index is stuck in tight range below 81.02 for nearly two weeks and is struggling at around 80.6 for the moment. Other financial markets are lacking a clear direction too. DOW closed mildly higher by 0.16% at 16808.49 but is stuck in range below 16970.17 record high. Similar picture is seen in S&P 500 as it's staying in range below 1955.55 record high and closed at 1941.99. 30 year yield rose to close at 3.446 overnight but is staying in range below near term resistance of 3.492. The more exciting movement was seen in 10 year yield which closed strongly at 2.655, touching near term resistance of 2.655. In short, the markets will need some stimulus to get a firm direction. Full Report Here...
Featured Technical Report
USD/CAD Daily Outlook Daily Pivots: (S1) 1.0841; (P) 1.0858; (R1) 1.0876; More... USD/CAD's fall lost momentum ahead of 1.0813 support and recovered. As it's staying in range trading from 1.0813, intraday bias remains neutral. More sideway consolidation could be seen. Overall, with 1.1052 resistance intact, outlook stays bearish and an eventual downside breakout is still anticipated. Below 1.0813 will extend the corrective decline from 1.1278 to 50% retracement of 1.0181 to 1.1278 at 1.0730. We'll look for reversal signal below there. However, considering bullish convergence condition in 4 hours and daily MACD, break of 1.1052 will confirm reversal and target 1.1278 again. 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	Current Account Q/Q Q1	$1.41B	$1.42B	$-1.43B	$'-1.51B
23:50	JPY	BoJ Minutes
23:50	JPY	Trade Balance (JPY) May	-0.86T	-1.01T	-0.84T	-0.88T
0:00	AUD	Leading Indicator Apr	-0.10%		0.00%
0:30	AUD	Westpac Leading Index M/M May	0.10%		-0.50%
8:30	GBP	BoE Minutes		0--0--9	0--0--9
9:00	CHF	ZEW Expectations Jun		10	7.4
12:30	CAD	Wholesale Sales M/M Apr			-0.40%
12:30	USD	Current Account Q1		$-95.9B	$-81.1B
14:30	USD	Crude Oil Inventories			-2.6M
18:00	USD	FOMC Rate Decision		0.25%	0.25%
18:30	USD	FOMC press conference

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

Despite yesterday's fall to 1.0836, as the greenback has rebounded after holding above indicated support at 1.0814, suggesting minor consolidation would be seen, however, reckon 1.0900 would limit upside and bring another decline later, a break below said 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

Trade Idea Wrap-up: USD/CHF - Hold short entered at 0.8990

Dollar's rebound after intra-day initial brief fall to 0.8965 suggests further consolidation would be seen, however, still reckon yesterday's high of 0.9013 would limit upside and bring another fall, break of support at 0.8960 (Friday's low) would add credence to our view that rebound from 0.8908 has ended at 0.9013, bring further consolidation within recent established range of 0.8908-0.9037, then weakness to 0.8920 would be seen