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Action Insight Market Overview	Markets Snapshot
Daily Report: Yen Rises after Solid Data, NZD Jumps The Japanese yen strengthens after a batch of mostly positive economic data. National CPI core rose 3.4% yoy in May, and Tokyo CPI core rose 2.8% yoy in June. Both were inline with expectation. Retail sales dropped -0.4% yoy in May, better than consensus of -1.9% Yoy. Unemployment rate unexpectedly dropped to 3.5 % in May a 6 year low. Household spending was rather weak, dropping -8.0% yoy in May versus expectation of -1.9% yoy. There were talks that the weakness in spending could cast some doubts on BoJ's optimistic view on the economy. However, some economists were quick to point out that the details were indeed pointing to bottoming in spending. And, the economy would rebound in Q3 as the impact from the sales tax hike fades. USD/JPY took out 101.42 support today and is likely heading back to 100.65/82 key support level next. Full Report Here...
Featured Technical Report
USD/JPY Daily Outlook Daily Pivots: (S1) 101.51; (P) 101.68; (R1) 102.88; More... USD/JPY's fall from 102.79 extends to as low as 101.31 so far today and broke 101.42 support. Intraday bias is back on the downside for 100.65/82 key support zone. The larger fall from 105.41 could be resuming and decisive break of 100.65 will confirm. More importantly, such development will carry larger bearish implications. On the upside, above 101.81 will dampen this immediate bearish view and turn bias back to the upside to extend recent sideway trading. 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	Trade Balance (NZD) May	285M	250M	534M	498M
23:05	GBP	GfK Consumer Sentiment Jun	1	2	0
23:30	JPY	Unemployment Rate May	3.50%	3.60%	3.60%
23:30	JPY	Household Spending Y/Y May	-8.00%	-1.90%	-4.60%
23:30	JPY	National CPI Core Y/Y May	3.40%	3.40%	3.20%
23:30	JPY	Tokyo CPI Core Y/Y Jun	2.80%	2.80%	2.80%
23:50	JPY	Retail Trade Y/Y May	-0.40%	-1.90%	-4.40%	-4.30%
7:00	CHF	KOF Leading Indicator Jun			99.8
8:30	GBP	Current Account (Pounds) Q1		-17.1B	-22.4B
8:30	GBP	GDP Q/Q Q1 F		0.80%	0.80%
8:30	GBP	Index of Services 3M/3M Apr		0.90%	0.90%
9:00	EUR	Eurozone Consumer Confidence Jun F			-6.7
9:00	EUR	Eurozone Economic Confidence Jun			102.7
9:00	EUR	Eurozone Industrial Confidence Jun			-3
9:00	EUR	Eurozone Services Confidence Jun			3.8
9:00	EUR	Eurozone Business Climate Indicator Jun			0.37
12:00	EUR	German CPI M/M Jun P			0.20%
12:00	EUR	German CPI Y/Y Jun P			1.00%
12:30	CAD	Industrial Product Price M/M May		0.40%	-0.20%
12:30	CAD	Raw Materials Price Index M/M May		1.30%	0.10%
13:55	USD	U. of Michigan Confidence Jun F		82.2	81.20%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency jumped in NY morning on disappointing US GDP data, offers at 1.3630-50 area were filled but sell orders are still noted 1.3670-75 (stops above), sizeable selling interest is expected at 1.3690-00 with more stops tipped above figure. On the downside, bids are raised to 1.3600-10, 1.3575-85 and 1.3560 (stops below), more buy orders are tipped at 1.3535-40 and 1.3500-20 area with stops placed below 1.3500.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.8100

Although the single currency has retreated after meeting resistance at 0.8034 yesterday, break of recent low of 0.7959 is needed to signal recent decline has resumed in wave v of iii and extend further weakness to 0.7940 and possibly 0.7920, however, this final leg of wave iii should be limited to 0.7900 and reckon 0.7870-75 would hold from here, risk from there is seen for a rebound to take place later.

Trade Idea: USD/CAD - Sell at 1.0800

As the greenback has remained under pressure after this week's anticipated resumption of decline, adding credence to our near term bearish count for the wave c of iv to extend further weakness to 1.0650-60 and possibly towards 1.0605-10 (61.8% Fibonacci retracement of 1.0190-1.1279), however, oversold condition should limit downside to 1.0550, risk from there is seen for a strong rebound to take place later.