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Action Insight Market Overview	Markets Snapshot
Daily Report: Euro Mildly Softer as IMF Abandoned Greece Debt Talk The currency markets are relatively steady as the end of the week approaches. Euro continues to stay in right range against dollar but is mildly softer against yen and sterling. It's reported that the International Monetary Fund bluntly abandoned the debt talk with Greece in Brussels. IMF spokesman noted there were "major differences" in "most key areas". And, "there has been no progress in narrowing these differences recently". And the main areas include pensions, taxes and financing. European Union president Donald Tusk warned Greece that "there is no more time for gambling" and the day is coming for someone to say "game is over". Full Report Here...
Featured Technical Report
EUR/GBP Daily Outlook Daily Pivots: (S1) 0.7221; (P) 0.7268; (R1) 0.7300; More... EUR/GBP dips mildly as the consolidation from 0.7385 continues. Intraday bias remains neutral for the moment. Rise from 0.7054 is seen as the third leg in the consolidation pattern from 0.7013. Further rise is mildly in favor as long as 0.7201 minor support holds. Above 0.7385 will target 0.7482 and above. In that case, strong resistance is expected at 50% retracement of 0.8006 to 0.7013 at 0.7510 to limit upside and bring reversal. On the downside, break of 0.7201 support will argue that the rebound has completed and will turn bias back to the downside instead. 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

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GMT	Ccy	Events	Actual	Consensus	Previous	Revised
22:30	NZD	Business NZ Manufacturing Index May	51.5		51.8	51.7
4:30	JPY	Industrial Production M/M Apr F		1.00%	1.00%
4:30	JPY	Tertiary Industry Index M/M Apr		0.40%	-1.00%
8:30	GBP	Construction Output M/M Apr		0.10%	3.90%
9:00	EUR	Eurozone Industrial Production M/M Apr		0.40%	-0.30%
12:30	USD	PPI M/M May		0.40%	-0.40%
12:30	USD	PPI Y/Y May			-1.30%
12:30	USD	PPI Core M/M May		0.10%	-0.20%
12:30	USD	PPI Core Y/Y May			0.80%
14:00	USD	U. of Michigan Confidence Jun 8		91.5	90.7

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency fell again in NY morning, bids at 1.1275-80, 1.1240-50, 1.1230 and 1.1200 were filled, however, buy orders are still noted at 1.1180-85 and 1.1150, buying interest is tipped at 1.1130 and 1.1100. On the upside, offers are now seen at 1.1250-55 and 1.1285-90, sell orders are reported at 1.1300, 1.1320 and 1.1335-40, selling interest should emerge at 1.1365, 1.1380 and 1.1400, sellers are awaiting at 1.1430 and 1.1450.

Trade Idea: EUR/GBP - Buy at 0.7200

As the single currency has fallen again after brief recovery to 0.7316, suggesting near term downside risk remains for the fall from 0.7389 (this week's high) to extend weakness to 0.7222 (50% Fibonacci retracement of 0.7055-0.7389), however, reckon downside would be limited to 0.7200 and bring rebound later, above said resistance at 0.7316 would signal low is formed, bring rebound towards 0.7365

Trade Idea: USD/CAD - Hold short entered at 1.2350

Although the greenback has rebounded after finding support at 1.2202 yesterday, reckon upside would be limited to 1.2355-60 and bring another decline, below said support at 1.2202 would extend the fall from 1.2563 (last week's high) for retracement of recent rise in wave ii, then weakness to 1.2150 would follow but reckon 1.2100 would contain downside and 1.2050 would hold, bring rebound later.