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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Dollar Weakness Continues Before Weekly Close Dollar is set to be the weakest currency this week with falling treasury yields putting some pressure on USD/JPY. Meanwhile, the Japanese yen stays firm is set to be the strongest currency this week, overshadowing Canadian dollar and is just behind New Zealand dollar. The forex markets are rather mixed elsewhere. European majors are stuck in range against dollar and against each other. There were some economic data released from Eurozone today. Also, an interview with BoE governor Carney was broadcast. But these events didn't trigger any meaningful move in European majors. Full Report Here...
Featured Technical Report
USD/JPY Mid-Day Outlook Daily Pivots: (S1) 101.51; (P) 101.68; (R1) 102.88; More... Intraday bias in USD/JPY remains on the downside. The fall from 102.79 is expected to extend to 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%
07:00	CHF	KOF Leading Indicator Jun	100.4	100.2	99.8
08:30	GBP	Current Account (Pounds) Q1	-18.5B	-17.1B	-22.4B	-23.5B
08:30	GBP	GDP Q/Q Q1 F	0.80%	0.80%	0.80%
08:30	GBP	Index of Services 3M/3M Apr	0.90%	0.90%	0.90%	0.80%
09:00	EUR	Eurozone Consumer Confidence Jun F	-7.5		-6.7	-7.1
09:00	EUR	Eurozone Economic Confidence Jun	102	103	102.7
09:00	EUR	Eurozone Industrial Confidence Jun	-4.3	-3	-3	-3.1
09:00	EUR	Eurozone Services Confidence Jun	4.2	4	3.8
09:00	EUR	Eurozone Business Climate Indicator Jun	0.2	0.4	0.37
12:00	EUR	German CPI M/M Jun P	0.30%	0.20%	-0.10%
12:00	EUR	German CPI Y/Y Jun P	1.00%	1.00%	0.90%
12:30	CAD	Industrial Product Price M/M May	-0.50%	0.40%	-0.20%
12:30	CAD	Raw Materials Price Index M/M May	-0.40%	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

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 Update: EUR/USD - Hold short entered at 1.3620

Although the single currency fell to 1.3576 yesterday, the subsequent rebound after holding above previous support at 1.3564 suggests further choppy trading is in store, however, as long as yesterday's high of 1.3641 holds, consolidation with mild downside bias remains for another fall towards said support area at 1.3564-76, break there would signal the rebound from 1.3512 has ended at 1.3651 earlier this week and extend weakness to 1.3540

Trade Idea Update: USD/JPY - Hold short entered at 102.10

As the greenback has dropped again today and broke below indicated previous support at 101.43, adding credence to our view that the rebound from 100.82 has ended at 102.80 earlier and bearishness remains for the fall from there to extend weakness to 101.10-20, however, oversold condition should prevent sharp fall below previous chart support at 100.82, bring rebound later.