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Action Insight Market Overview	Markets Snapshot
Daily Report: Dollar Jumps against Yen as Yield Soars Dollar surged against the broadly weak Japanese yen overnight on the bad of strong rebound in treasury yields. Indeed, 10 year yield had the biggest 4-day jumps since March and had a strong close at 2.593. That was impressive comparing to last week's low of 2.402. 30 year yield also closed strongly at 3.435, comparing to last week's low of 3.267. Dollar index breached 80.60 resistance this week which carries near term bullish implications. In the stock markets, S&P 500 close slightly down by -0.73 pts at 1924.24, staying close to record high. Overall, traders seem to be optimistic that this week's heavy weight data would show the underlying health of the US economy. Full Report Here...
Featured Technical Report
USD/JPY Daily Outlook Daily Pivots: (S1) 101.92; (P) 102.20; (R1) 102.64; More... USD/JPY rises to as high as 102.77 so far today and intraday bias remains on the upside. Current development suggests that consolidation pattern from 100.75 is still in progress with rise from 100.82 as the third leg. Further rise would be seen to 103.01 resistance and above. We'd expect strong resistance from 104.12 to limit upside and bring reversal. Below 102.13 support will turn bias back to the downside for retesting 100.75. 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
23:01	GBP	BRC Shop Price Index Y/Y May	-1.40%	-1.30%	-1.40%
1:30	AUD	GDP Q/Q Q1	1.10%	0.90%	0.80%
8:00	EUR	Eurozone Services PMI May F		53.5	53.5
8:30	GBP	Services PMI May		58.2	58.7
9:00	EUR	Eurozone GDP Q/Q Q1 P		0.20%	0.20%
9:00	EUR	Eurozone PPI M/M Apr		-0.10%	-0.20%
9:00	EUR	Eurozone PPI Y/Y Apr		-1.20%	-1.60%
12:15	USD	ADP Employment Change May		208K	220K
12:30	USD	Trade Balance Apr		-$40.6B	-$40.4B
12:30	CAD	International Merchandise Trade (CAD) Apr		0.10B	0.08B
12:30	USD	Non-Farm Productivity Q1 F		-2.60%	-1.70%
12:30	USD	Unit Labor Costs Q1 F		4.80%	4.20%
14:00	CAD	BoC Rate Decision		1.00%	1.00%
14:00	USD	ISM Non-Manufacutring Composite May		55.5	55.2
14:30	USD	Crude Oil Inventories			1.7M
18:00	USD	Federal Reserve Beige Book

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency rebounded today as some traders pre-positioned ahead of ECB, offers at 1.3615-25 and 1.3640-45 were filled but more sell orders are still seen at 1.3655-65 and from 1.3680 up to 1.3700. selling interest is tipped further out at 1.3715 and 1.3730 with stops placed above 1.3735. On the downside, bids are now noted at 1.3600-10 and decent demand remains at 1.3575-85, more bids are tipped further out at 1.3550-60 (stops below barrier at 1.3550), 1.3525 and 1.3500 (another barrier).

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Forex Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.8050

Although the single currency has rebounded again after intra-day fall to 0.8107, reckon resistance at 0.8184 would limit upside and near term downside risk remains for recent decline to resume after consolidation, break of said support at 0.8107 would bring retest of last month's low at 0.8081, below there would extend weakness to 0.8050-55, however, loss of downward momentum should prevent sharp fall below there and this minor wave v would be limited to 0.8015-20, bring rebound later.

Trade Idea Wrap-up: USD/JPY - Buy at 101.80

As the greenback has maintained a firm undertone after yesterday's rally above previous resistance at 102.14, confirming our view that the rise from 100.82 is still in progress and further gain to 102.75-87 (100% projection of 100.82-102.14 measuring from 101.43 and 61.8% Fibonacci retracement of 104.13-100.82) would be seen, however, near term overbought condition should limit upside to resistance at 103.02 and price should falter below 103.40-50.