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Daily Report: Aussie Steady after RBA Minutes, Euro Range Bound Aussie stays steady tight range after RBA released minutes for its June 2 meeting. The central bank noted that it was "appropriate" to keep rates unchanged at historical low of 2.00% in June and to "assess information on economic and financial conditions as it become available". It said that "these data would inform the board's assessment of the state of the economy and the outlook and hence whether the current stance of policy would most effectively foster sustainable growth and inflation." Meanwhile, it also acknowledged that "the available data suggested that private business investment had declined further in the March quarter." Regarding the exchange rate, RBA said "a lower exchange rate would have an immediate beneficial effect on some sectors, such as tourism." And, "it would need to be lower for a sustained period to have a significant effect on large investment decisions in other trade-exposed sectors." Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.7719; (P) 0.7748; (R1) 0.7792; More... AUD/USD's consolidation from 0.7597 is still in progress and intraday bias remains neutral for the moment. With 0.7839 resistance intact, near term outlook remains bearish. We're holding on to the view that consolidation pattern from 0.7625 has completed at 0.8161 already and larger down trend is possibly resuming. Below 0.7597 will target 0.7532 first. Break will target 61.8% projection of 0.8910 to 0.7625 from 0.8161 at 0.7367 next. However, above 0.7839 will suggest that consolidation pattern from 0.7625 is extending with another rise towards 0.8161 resistance. 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
20:00	USD	Net Long-term TIC Flows Apr	$53.9B	$22.5B	$17.6B	$25.6B
1:30	AUD	RBA Minutes
5:45	CHF	SECO June 2015 Economic Forecasts
6:00	EUR	German CPI M/M May F		0.10%	0.10%
6:00	EUR	German CPI Y/Y May F		0.70%	0.70%
8:30	GBP	CPI M/M May		0.20%	0.20%
8:30	GBP	CPI Y/Y May		0.10%	-0.10%
8:30	GBP	Core CPI Y/Y May		1.00%	0.80%
8:30	GBP	RPI M/M May		0.30%	0.40%
8:30	GBP	RPI Y/Y May		1.10%	0.90%
8:30	GBP	PPI Input M/M May		0.60%	0.40%
8:30	GBP	PPI Input Y/Y May		-11.30%	-11.70%
8:30	GBP	PPI Output M/M May		0.10%	0.10%
8:30	GBP	PPI Output Y/Y May		-1.60%	-1.70%
8:30	GBP	PPI Output Core M/M May		0.00%	0.00%
8:30	GBP	PPI Output Core Y/Y May		0.10%	0.10%
9:00	EUR	Eurozone Employment Q/Q Q1		0.10%	0.10%
9:00	EUR	German ZEW (Current Situation) Jun		63	65.7
9:00	EUR	German ZEW (Economic Sentiment) Jun		37.3	41.9
9:00	EUR	Eurozone ZEW (Economic Sentiment) Jun		60.3	61.2
12:30	USD	Housing Starts May		1.10M	1.14M
12:30	USD	Building Permits May		1.11M	1.14M
12:30	CAD	International Securities Transactions (CAD) Apr			22.50B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency traded narrowly after finding support at 1.1189, offers are still noted at 1.1260, 1.1280 and 1.1300, more sell orders are reported at 1.1320, 1.1340 and 1.1365, selling interest is tipped at 1.1380 and 1.1400. On the downside, bids are now seen at 1.1200-05 and 1.1185, buy orders are expected at 1.1150, 1.1130 and 1.1100, buying interest should emerge around 1.1080-85, 1.1065 and 1.1050.

Trade Idea: EUR/GBP - Hold long entered at 0.7200

The single currency has remained under pressure after falling to 0.7196 on Friday, further consolidation is seen but downside should be limited and upside bias remains for a rebound to 0.7290-00 but break of resistance at 0.7316 is needed to signal low is formed, bring further rise towards 0.7365, break there would confirm retreat from 0.7389 has ended, bring retest of this level later. Looking ahead, a break there is needed to extend the rebound from 0.7055 to 0.7420, then towards 0.7450

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

Although the greenback rebounded after falling to 1.2202 last week and further consolidation above this level is seen, reckon upside would be limited to 1.2360-65 and bring another decline, below 1.2270 would bring retest of said support at 1.2202, break there would extend the fall from 1.2563 for retracement of recent rise in wave ii, then weakness to 1.2150 would follow but 1.2100 would contain downside and 1.2050 should hold, bring rebound later.