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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Sterling Maintains BoE Carney Inspired Gains Sterling is set to be the second strongest major currency this week, just after the RBNZ boosted kiwi. Hawkish comments from BoE governor Carney yesterday propelled the pound higher and sent it to 19 month higher against Euro today, breaking 0.8 handle. Sterling is also strong against the greenback and is set to take on 1.7 handle soon. While the Japanese yen is sold off broadly today after BoJ policy announcement, it will likely end the week mixed. The weakest currency is Euro which remains pressured by ECB policy outlook. But, it should be noted that dollar isn't much better as it's only having slight gains against Euro and Swissy over the week. And indeed, Euro is held above 1.3502 support while USD/CHF is also held below 0.9036 resistance. Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.6832; (P) 1.6881; (R1) 1.6976; More... Intraday bias in GBP/USD remains on the upside for the moment. The corrective pull back from 1.6995 has completed already and the larger rally from 1.4813 is still in progress. Break of 1.6995 will extend such rise through 1.7043 key resistance. We'd start to look for reversal signal above 1.7043 again. Meanwhile, break of 1.6845 resistance turned support is needed to confirm near term reversal. Otherwise, outlook will now stay cautiously bullish. 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
	JPY	BoJ Monetary Policy Statement
04:30	JPY	Industrial Production M/M Apr F	-2.80%	-2.50%	-2.50%
05:30	CNY	Industrial Production Y/Y May	8.80%	8.80%	8.70%
05:30	CNY	Retail Sales Y/Y May	12.50%	12.20%	11.90%
05:30	CNY	Fixed Assets Ex Rural YTD Y/Y May	17.20%	17.10%	17.30%
06:00	EUR	German CPI M/M May F	-0.10%	-0.10%	-0.10%
06:00	EUR	German CPI Y/Y May F	0.90%	0.90%	0.90%
09:00	EUR	Eurozone Employment Q/Q Q1	0.10%	0.10%	0.10%
09:00	EUR	Eurozone Trade Balance (EUR) Apr	15.8B	15.9B	15.2B	15.4B
12:30	CAD	Manufacturing Shipments M/M Apr	-0.10%	0.90%	0.40%
12:30	USD	PPI M/M May	-0.20%	0.10%	0.60%
12:30	USD	PPI Y/Y May	2.00%	2.40%	2.10%
12:30	USD	PPI Core M/M May	-0.10%	0.20%	0.50%
12:30	USD	PPI Core Y/Y May	2.00%	2.30%	1.90%
13:55	USD	U. of Michigan Confidence Jun P		83	81.9

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency turned around in European session, bids at 1.3550 were filled but buy orders are still noted at 1.3510-20, mixture of bids and stops is located at 1.3500, more buying interest is located at 1.3475 and 1.3450. On the upside, offers in good size are reported at 1.3580-85 and 1.3600-10, selling interest in good size is tipped at 1.3625 and 1.3640-50, more sellers are expected 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: EUR/JPY - Sell at 139.00

Although the single currency extended recent decline to as low as 137.72 yesterday, lack of follow through selling and current rebound suggest a minor low is formed there and consolidation with mild upside bias is seen for retracement to 139.00 but reckon 139.15-20 (61.8% Fibonacci retracement of 140.09-137.72) would hold and bring another decline later. A break of said support would signal the decline from 143.79 top is still in progress and may extend weakness to 136.70.

Trade Idea: AUD/USD - Buy at 0.9330

Yesterday's breach of indicated resistance at 0.9409 confirms our view that the correction from 0.9461 has ended earlier, hence recent upmove should resume after consolidation, above said resistance at 0.9461 would extend recent rise in wave v for subsequent headway towards 0.9500-10 and possibly to 0.9550 which is likely to hold on first testing due to near term overbought condition, bring retreat later.