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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Dollar Shrugs off Weak Data, Kiwi Stays Strong Not much change is seen in the forex markets after slightly disappointing data release from US. Yen pared back some of this week's advance but stays firm against dollar in Euro. Euro remains the weakest currency this week on policy outlook. Kiwi is the strongest one today after RBNZ's rate hike. Aussie recovered the post employment data losses. Meanwhile, thanks to cross buying against Euro, Sterling is the second strongest currency today. US retail sales rose 0.3% in May while ex-auto sales rose 0.1%, both were below expectation. Initial jobless claims rose to 317k in the week ended June 7 versus consensus of 309k. Import price index rose 0.1% mom in May versus expectation of 0.2% mom. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 101.81; (P) 102.10; (R1) 102.34; More... Intraday bias in USD/JPY remains mildly on the downside for the moment. Rebound from 100.82 could have completed and deeper fall would be seen to 101.42 support. Break will target a test on key support zone of 100.61/75. On the upside, above 102.79 will extend the rebound from 100.82. But, overall, price actions from 100.75 are viewed as a consolidation pattern and we'd expect strong resistance below 104.12 and bring reversal. 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
21:00	NZD	RBNZ Rate Decision	3.25%	3.25%	3.00%
23:01	GBP	RICS House Price Balance May	57.00%	52.00%	54.00%	55.00%
23:50	JPY	Machine Orders M/M Apr	-9.10%	-10.80%	19.10%
01:30	AUD	Employment Change May	-4.8K	10.0K	14.2K	10.3K
01:30	AUD	Unemployment Rate May	5.80%	5.90%	5.80%
06:00	EUR	German Wholesale Price Index M/M May	-0.10%	0.30%	0.20%
08:00	EUR	ECB Monthly Bulletin
09:00	EUR	Eurozone Industrial Production M/M Apr	0.80%	0.50%	-0.30%	-0.40%
12:30	CAD	New Housing Price Index M/M Apr	0.20%	0.30%	0.20%
12:30	USD	Advance Retail Sales May	0.30%	0.60%	0.10%	0.50%
12:30	USD	Retail Sales Less Autos May	0.10%	0.40%	0.00%	0.40%
12:30	USD	Initial Jobless Claims (JUN 7)	317K	309K	313K
12:30	USD	Import Price Index M/M May	0.10%	0.20%	-0.40%	-0.50%
14:30	USD	Natural Gas Storage		111B	119B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency filled bids at 1.3520 but found buying interest at 1.3512 and has recovered, mixture of bids and stops remains at 1.3500-10, fresh demand is expected around 1.3475 and further out 1.3450. On the upside, offers remain at 1.3550-60, 1.3575-85 and 1.3600-10, sell orders in good size are tipped at 1.3625 and 1.3640-50, selling interest is tipped further out at 1.3665-75 and 1.3680-1.3700 area with stops expected above barrier at figure.

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Forex Trade Ideas

Trade Idea Update: GBP/USD - Buy at 1.6790

As the British pound has surged again after brief pullback, suggesting the retreat from 1.6846 has ended at 1.6738 yesterday and above this level would extend the erratic rise from 1.6693 low for a strong retracement of recent decline to 1.6860 and possibly towards resistance at 1.6882 but reckon 1.6900 would hold from here, bring retreat later.

Trade Idea Update: EUR/USD - Hold long entered at 1.3537

As the single currency has slipped again after meeting resistance around the lower Kumo, suggesting near term downside risk remains and marginal weakness from here cannot be ruled out, however, as long as support at 1.3503 holds, further consolidation would be seen and another bounce to yesterday's high of 1.3557 is likely but break of the upper Kumo (now at 1.3596) is needed to suggest the fall from 1.3677 has ended and bring another rise towards this level later.