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Action Insight Market Overview	Markets Snapshot
Daily Report: Euro Stays Weak ahead of Inflation Data Dollar and euro are set to be the weakest major currencies in June. Euro will first face the test from inflation data again while dollar will face tests from ISM indices and employment data later in the week. Eurozone CPI is expected to rise from 0.5% yoy to 0.6% yoy in June. Core CPI is expected to be unchanged at 0.7% yoy. Eurozone will also release M3 money supply. ECB launched a package of stimulus measures earlier this month. However, persistently low inflation reading could force ECB into quantitative easing later this year. Meanwhile, ECB executive board member Mersch said over the week end that there is "no enhanced or acute deflationary threat". He noted that what the central saw was a "longer period of very low inflation" only. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.9405; (P) 0.9422; (R1) 0.9440; More... AUD/USD weakens mildly today and is staying in range below 0.9446. Intraday bias remains neutral first. On the downside, break of 0.9321 will indicate that the sideway pattern from 0.9460 has started another falling leg and will turn bias to the downside for 0.9210 and below. In that case, strong support should be seen at 38.2% retracement of 0.8659 to 0.9460 at 0.9154 and bring rally resumption. On the upside, we'd stay cautious on reversal from 0.9460 resistance. But decisive break there will resume whole rally from 0.8659. 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

22:45	NZD	Building Permits M/M May	-4.60%		1.50%	1.90%
23:50	JPY	Industrial Production M/M May P	0.50%	0.90%	-2.80%
1:00	NZD	NBNZ Business Confidence Jun	42.8		53.5
6:00	JPY	Housing Starts Y/Y May	-15.00%	-10.10%	-3.30%
8:00	EUR	Eurozone M3 Y/Y May		0.70%	0.80%
8:30	GBP	Mortgage Approvals May		62K	62.9K
8:30	GBP	M4 Money Supply M/M May		0.20%	-0.20%
9:00	EUR	Eurozone CPI Estimate Y/Y Jun		0.60%	0.50%
9:00	EUR	Eurozone CPI - Core Y/Y Jun A		0.70%	0.70%
12:30	CAD	GDP M/M Apr		0.20%	0.10%
13:45	USD	Chicago PMI Jun		63.2	65.5
14:00	USD	Pending Home Sales M/M May		1.40%	0.40%

Orders and Options Watch

US Session: Orders and Options Watch

JPY: Dollar remained confined in narrow range, buy orders are still noted at 101.25 and 101.00, fresh demand should emerge around 100.75-85 (stops below) and 100.50. On the upside, offers are lowered to 101.50 and 101.70, sell orders in good size are expected at 101.90-102.00 and from 102.20 up to 102.50 (stops above), more selling interest should emerge around 102.65, 102.80-85 and 102.90-103.00 with stops building up above figure.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.8100

Despite yesterday's retreat to 0.7983, as the single currency found support there and has recovered, retaining our view that further consolidation above recent low of 0.7959 would be seen and break of this week's high of 0.8034 would bring another corrective rise in wave iv to 0.8060, however, reckon 0.8100 would limit upside and bring another decline. A break of yesterday's low of 0.7983 would bring weakness to 0.7969 but only break of said recent low at 0.7959 would confirm decline has resumed in wave v of iii

Trade Idea: USD/CAD - Sell at 1.0750

As the greenback has fallen again after meeting renewed selling interest at 1.0752 earlier this week, suggesting recent decline from 1.1279 top is still in progress and may extend weakness to 1.0630-35 (100% projection of 1.1279-1.0858 measuring from 1.1053) is likely, however, loss of downward momentum should limit downside to 1.0605-10 (61.8% Fibonacci retracement of 1.0190-1.1279) and bring rebound later