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Action Insight Market Overview	Markets Snapshot
Daily Report: Dollar Mildly Head ahead of Busy Week, Manufacturing Data in Focus Today Dollar is generally higher as the week starts as markets are awaiting manufacturing data across the Atlantic. But momentum isn't too strong for the moment as dollar index is staying in range around 80.40. That's mainly because EUR/USD is struggling to find any clear direction and is staying in tight range above last week's low of 1.3585. In the European session, Swiss will release SVME PMI, Eurozone will release PMI manufacturing final, UK will release PMI manufacturing. From US, ISM manufacturing index will be featured. While some volatility would likely be triggered, traders will remain cautious ahead of the key events later this week, in particular the ECB rate announcement. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.9288; (P) 0.9308; (R1) 0.9328; More... AUD/USD drops sharpy today but is staying in recent range and intraday bias remains neutral first. Consolidation from 0.9460 is still in progress and below 0.9211 would extend lower. But, downside should be contained by 38.2% retracement of 0.8659 to 0.9460 at 0.9154 and bring rally resumption. On the upside, above 0.9408 will argue that rise from 0.8659 is finally resuming for 0.9460 and above. 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
23:50	JPY	Capital Spending Q1	7.40%	5.80%	4.00%
0:30	AUD	TD Securities Inflation M/M May	0.30%		0.40%
1:30	AUD	Building Approvals M/M Apr	-5.60%	2.00%	-3.50%	-4.80%
1:35	JPY	Manufacturing PMI May F	49.9	49.9	49.9
7:30	CHF	SVME-PMI May		55.5	55.8
8:00	EUR	Eurozone Manufacturing PMI May F		52.5	52.5
8:30	GBP	PMI Manufacturing May		57	57.3
8:30	GBP	Mortgage Approvals Apr		64.5B	67.1K
8:30	GBP	M4 Money Supply M/M Apr		0.30%	-2.30%
12:00	EUR	German CPI M/M May P		0.10%	-0.20%
12:00	EUR	German CPI Y/Y May P		1.10%	1.30%
14:00	USD	ISM Manufacturing May		55.5	54.9
14:00	USD	ISM Prices Paid May		56.9	56.5
14:00	USD	Construction Spending M/M Apr		0.70%	0.20%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency continued to find good support just below 1.3600 and has rebounded in NY morning, offers at 1.3625 were filled but sell orders are expected at 1.3640, 1.3655-65 and 1.3680-1.3700 area, selling interest is tipped further out at 1.3715 and 1.3730 with stops placed above 1.3735. On the downside, good bids remain from 1.3600 down to 1.3575, more buy orders are tipped further out at 1.3550-60 (stops below barrier at 1.3550), fresh demand should emerge around 1.3525 and 1.3500 (another barrier).

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Forex Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.8050

As the single currency has retreated after intra-day initial rise to 0.8153, suggesting consolidation would be seen and downside risk remains for recent decline to resume later, break of last week's low at 0.8081 would extend weakness to 0.8050-55, however, loss of downward momentum should prevent sharp fall below there and reckon this minor wave v would be limited to 0.8015-20, bring rebound later.

Trade Idea: USD/CAD - Sell at 1.0910

Despite intra-day fall to 1.0822, as the greenback has rebounded after holding above previous support at 1.0814, suggesting consolidation would be seen and recovery to 1.0885-90 cannot be ruled out, however, reckon resistance at 1.0942 (last week's high) should hold and bring another decline. A break of said support at 1.0814 would signal the c leg of wave iv is still 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