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Action Insight Market Overview	Markets Snapshot
Daily Report: Aussie Soft after RBA, Greece to Submit New Bailout Proposal The Australian dollar remains soft after RBA left the cash rate unchanged at historical low of 2.00% as widely expected. The accompanying statement contained little new information. The central bank maintained a neutral stance and said that it will assess the outlook and policy stance based on further information on economic and financial conditions ahead. It maintained that the economy will be "operating with a degree of spare capacity for some time yet". Inflation is expected to be consistent with target "over the next one to two years" even with a lower exchange rate. And regarding the exchange rate, RBA maintained that "further depreciation seems both likely and necessary" Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.7463; (P) 0.7497; (R1) 0.7533; More... Intraday bias in AUD/USD remains on the downside for the moment. The larger down trend has just resumed and further decline should be seen to 61.8% projection of 0.8910 to 0.7625 from 0.8161 at 0.7367 next. On the upside, above 0.7597 support turned resistance will turn bias neutral and bring consolidations. But outlook will stay bearish as long as 0.7848 resistance holds. 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
04:30	AUD	RBA Rate Decision	2.00%	2.00%	2.00%
05:45	CHF	Unemployment Rate Jun		3.30%	3.30%
06:00	EUR	German Industrial Production M/M May		0.10%	0.90%
07:00	CHF	Foreign Currency Reserves Jun			517.5B
08:30	GBP	Industrial Production M/M May		-0.20%	0.40%
08:30	GBP	Industrial Production Y/Y May		1.60%	1.20%
08:30	GBP	Manufacturing Production M/M May		0.10%	-0.40%
08:30	GBP	Manufacturing Production Y/Y May		1.80%	0.20%
12:30	CAD	Trade Balance (CAD) May		-2.5B	-2.97B
12:30	USD	Trade Balance May		-$42.00B	-$40.90B
14:00	GBP	NIESR GDP Estimate Jun			0.60%

Orders and Options Watch

US Session: Orders and Options Watch

EUR: Although the single currency ran into resistance just below 1.1100 and retreated, bids are still noted at 1.1000 and 1.0980, buy orders are expected at 1.0960, 1.0930 and 1.0900, buying interest is located at 1.0880, 1.0850 and 1.0825, mixture of bids and stops is located at 1.0800. On the upside, offers are now seen at 1.1095-00, 1.1120 and 1.1145-50, sell orders are reported at 1.1180, 1.1200 and 1.1220-25, selling interest is tipped at 1.1245, 1.1280 and 1.1300.

Trade Idea: USD/CAD - Buy at 1.2500

As the greenback has risen again after brief pullback, suggesting recent upmove from 1.2128 (wave ii trough) is still in progress in wave iii and bullishness remains for further gain to 1.2665-70, then 1.2700, however, loss of near term upward momentum should prevent sharp move beyond 1.2750-60 and reckon 1.2800 would hold.

Trade Idea: EUR/GBP - Sell at 0.7210

Euro has remained confined in narrow range and further sideways trading would be seen, above 0.7140 would bring another test of resistance at 0.8168, break there would bring retracement of recent decline to 0.7190-00 but renewed selling interest should emerge around resistance at 0.7211, bring another decline later. Below 0.7060-65 would bring retest of support at 0.6988