Although the EURUSD bounced back from an overnight low of 1.3223, the pair has yet to make another run at the 1.3300 handle, and the single currency may struggle to retain the advance from earlier this week should the U.S. Non-Farm Payrolls report dampen speculation for more Fed support.

1. DAILY I FOREX REPORT
11TH
JUN 2013
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 ECB Disagreements
Surface And Give Euro
Short-Lived Volatility
 US Dollar Looks For Cues In
Fed-Speak, Aussie Hits 20-
Month Low
 EURUSD Holds Steady
Ahead of NFPs as ECB
Delays Easing Cycle
ECB Adopts Neutral Tone, Banks to
Repay EUR 2.93B of LTRO
Although the EURUSD bounced back from an
overnight low of 1.3223, the pair has yet to make
another run at the 1.3300 handle, and the single
currency may struggle to retain the advance from
earlier this week should the U.S. Non-Farm Payrolls
report dampen speculation for more Fed support.
As the EURUSD clears the May high (1.3241), the
recent price development certainly dampens the
scope of seeing the head-and-shoulders formation play
out, and we may see the pair continue to retrace the
decline from earlier this year as the European Central
Bank (ECB) adopts a more neutral tone for monetary
policy.
Nevertheless, as commercial banks in Europe look to
repay another EUR 2.93B of the Long-Term
Refinancing Operations (LTRO), the weakening
outlook for private sector lending may prompt the ECB
to further embark on its easing cycle in the second-half
of the year, and the central bank may implement a
range of policy tools in the coming months as the
governments operating under the fixed-exchange rate
system become increasingly reliant on monetary
support.
Although we’re scaling back our bearish
outlook for the EURUSD, the pair looks
poised for a correction as the relative
strength index approaches overbought
territory, and the single currency remains
TRADING TIPS
 BUY EURUSD ABOVE
1.3235 TGT 1.3255/.1.3275
SL 1.3205
 SELL USDJPY BELOW 99.00
TGT 99.20/99.40 SL 98.70
 BUY GBPUSD ABOVE
1.5570 TGT 1.5590/1.5610
SL 1.5540
HEADLINES

3.  HOURLY EURUSD CHART
HOURLY EURUSD CHART
ANALYSIS
OPEN: 1.3202 EURUSD LOOKS UPWARD
HIGH: 1.3230 TREND: BULLISH
LOW: 1.3177 STRATEGY: BUY ON DIPS
CLOSE: 1.3217 MACD =>.0000(BULLISH SIGNAL)
RSI => 50.5912(BULLISH SIGNAL)

4. HOURLY USDJPY CHART
ANALYSIS
OPEN: 98.36 USDJPY LOOKS DOWNWARD
HIGH: 98.98 TREND: BEARISH
LOW: 97.71 STRATEGY: SELL ON RISE
CLOSE: 98.78 MACD =>.36(BWARI SIGNAL)
RSI => 66.99(BEARI SIGNAL)
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5. HOURLY GBPUSD CHART
ANALYSIS
OPEN: 1.5525 GBPUSD LOOKS UPWARD
HIGH: 1.5563 TREND: BULLISH
LOW: 1.5497 STRATEGY: BUY ON DIPS
CLOSE: 1.5542 MACD =>-.0003(BULLISH SIGNAL)
RSI => 49.5302(BULLISH SIGNAL)
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HOURLY EURGBP CHART
ANALYSIS
OPEN: 00.8503 EURGBP LOOKS DOWNWARD
HIGH: 00.8518 TREND: BEARISH
LOW: 00.88496 STRATEGY: SELL ON RISE
CLOSE: 00.8503 MACD =>.00002(BEARISH SIGNAL)
RSI =>50.5764(BEARISH SIGNAL)

7. HOURLY USD INDEX CHART
ANALYSIS
OPEN: 81.6920 USD INDEX LOOKS DOWNWARD
HIGH: 81.9940 TREND: BEARISH
LOW: 81.6530 STRATEGY: SELL ON RISE
CLOSE: 81.8820 MACD =>.0405(BEARISH SIGNAL)
RSI =>57.0189(BEARISH SIGNAL)
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8. Date Time Currency Event Importance Actual Forecast Previous
Sun
Jun 9
01:30
CNY Consumer Price
Index (YoY) (MAY)
High 2.1% 2.5% 2.4%
01:30
CNY Producer Price
Index (YoY) (MAY)
Medium -2.9% -2.5% -2.6%
02:15
CNY New Yuan Loans
(MAY)
Medium 667.4B 815.0B 792.9B
02:15
CNY Money Supply -
M2 (YoY) (MAY)
Medium 15.8% 15.9% 16.1%
05:30
CNY Fixed Assets Inv
Excl. Rural YTD (YoY)
(MAY)
Medium 20.4% 20.5% 20.6%
05:30
CNY Industrial
Production YTD (YoY)
(MAY)
Medium 9.4% 9.4% 9.4%
05:30
CNY Industrial
Production (YoY)
(MAY)
Medium 9.2% 9.4% 9.3%
05:30
CNY Retail Sales YTD
(YoY) (MAY)
Medium 12.6% 12.6% 12.5%
05:30
CNY Retail Sales (YoY)
(MAY)
Medium 12.9% 12.9% 12.8%
22:45
NZD Manufacturing
Activity (1Q)
Low 0.2% -0.1%
22:45
NZD Manufacturing
Activity Volume s.a.
(QoQ) (1Q)
Low -0.6% 1.4%
23:50
JPY Gross Domestic
Product Annualized
(1Q F)
High 4.1% 3.5% 1.0%
23:50
JPY Gross Domestic
Product (QoQ) (1Q F)
High 1.0% 0.9% 0.3%
23:50
JPY Nominal Gross
Domestic Product
(QoQ) (1Q F)
High 0.6% 0.4% 0.1%
23:50
JPY Trade Balance -
BOP Basis (Yen) (APR)
Medium -¥818.8B -¥729.9B -¥219.9B
23:50
JPY Adjusted Current
Account Total (Yen)
(APR)
Low ¥852.7B ¥380.0B ¥342.4B
23:50
JPY Bank Lending
Banks ex-Trust (MAY)
Low 2.1% 2.2% 2.1%
23:50
JPY Bank Lending incl
Trusts (YoY) (MAY)
Low 1.8% 1.8% 1.7%
23:50
JPY Current Account
Balance (YoY) (APR)
Low 100.8% 5.7% -4.3%
23:50
JPY Current Account
Total (Yen) (APR)
Low ¥750.0B ¥350.0B ¥1251.2B
ECONOMIC CALLENDER

9. 23:50
JPY Gross Domestic
Product Deflator (YoY)
(1Q F)
Low -1.1% -1.2% -0.7%
Mon
Jun 10
NZD REINZ House
Sales (YoY) (MAY)
Medium 25.2%
00:00
NZD QV House Prices
(YoY) (MAY)
Low 7.1% 7.1%
NZD REINZ Housing
Price Index (MAY)
Low 3661.5
NZD REINZ Housing
Price Index (MoM)
(MAY)
Low 0.8%
04:30
JPY Bankruptcies
(YoY) (MAY)
Medium -8.97% -10.45%
05:00
JPY Consumer
Confidence (MAY)
Medium 45.7 44.7 44.5
05:45
CHF Unemployment
Rate (MAY)
Medium 3.0% 3.1% 3.1%
05:45
CHF Unemployment
Rate s.a. (MAY)
Medium 3.2% 3.2% 3.1%
06:00
JPY Eco Watchers
Survey: Current (MAY)
Medium 55.7 56.0 56.5
06:00
JPY Eco Watchers
Survey: Outlook (MAY)
Medium 56.2 56.6 57.8
07:15
CHF Retail Sales
(Real) (YoY) (APR)
Medium 3.3% -0.8%
08:30
EUR Euro-Zone Sentix
Investor Confidence
(JUN)
Medium -11.6 -11.3 -15.6
09:00
EUR Italian Gross
Domestic Product s.a.
and w.d.a. (YoY) (1Q
F)
Medium -2.4% -2.3% -2.3%
09:00
EUR Italian Gross
Domestic Product s.a.
and w.d.a. (QoQ) (1Q
F)
Low -0.6% -0.5% -0.5%
12:15
CAD Housing Starts
(MAY)
Medium 179.1K 174.9K
13:50
USD St. Louis Fed's
Bullard to Speak in
Montreal
Low
18:00
USD Fed's Southeast
New Mexico Economy
Free Conference
Low
22:00
NZD ANZ Truckometer
Heavy Traffic (MAY)
Low
23:01
GBP RICS House Price
Balance (MAY)
Medium 3.0% 1.0%
23:50
JPY BSI Large All
Industry (QoQ) (2Q)
Medium 1

10. 23:50
JPY BSI Large
Manufacturing (QoQ)
(2Q)
Low -4.6
23:50
JPY Japan Money
Stock M2+CD (YoY)
(MAY)
Low 3.5% 3.3%
23:50
JPY Japan Money
Stock M3 (YoY) (MAY)
Low 2.8% 2.6%
Tue
Jun 11
JPY Bank of Japan
Monetary Policy
Statement
High
JPY Bank of Japan
Rate Decision (JUN 11)
High
JPY BOJ 2014
Monetary Base Target
(JUN 11)
Medium ¥270T
AUD Australia
Manpower Survey (3Q)
Low 8.0%
CAD International
Economic Forum
Conference of Montreal
Low
EUR Germany Third
Quarter Manpower
Employment Outlook
(Table)
Low
JPY Japan Manpower
Survey (3Q)
Low 11
NZD New Zealand
Manpower Survey (3Q)
Low
00:01
CNY China Manpower
Survey (3Q)
Low 18%
01:30
AUD Home Loans
(APR)
Medium 2.0% 5.2%
01:30
AUD NAB Business
Confidence (MAY)
Medium -2
01:30
AUD Investment
Lending (APR)
Low 2.1%
01:30
AUD NAB Business
Conditions (MAY)
Low -6
01:30
AUD Value of Loans
(MoM) (APR)
Low 5.8%
05:45
CHF SECO June 2013
Economic Forecasts
Medium
06:00
JPY Machine Tool
Orders (YoY) (MAY P)
Medium -23.6%
06:30
JPY BoJ Governor
Kuroda Press
Conference After Rate
Decision
High
08:30
GBP Industrial
Production (YoY)
(APR)
Medium -0.6% -1.4%

11. 08:30
GBP Manufacturing
Production (YoY)
(APR)
Medium -0.3% -1.4%
08:30
GBP Industrial
Production (MoM)
(APR)
Low 0.0% 0.7%
08:30
GBP Manufacturing
Production (MoM)
(APR)
Low -0.2% 1.1%
11:30
GBP NFIB Small
Business Optimism
(MAY)
Low 91.5 92.1
14:00
GBP NIESR Gross
Domestic Product
Estimate (MAY)
High 0.8%
14:00
USD JOLTs Job
Openings (APR)
Low 3900 3844
14:00
USD Wholesale
Inventories (APR)
Low 0.2% 0.4%
14:00
USD Wholesale Sales
(MoM) (APR)
Low -0.1% -1.6%
22:45
NZD NZ Card
Spending - Retail
(MAY)
Medium 0.5% 0.6%
22:45
NZD NZ Card
Spending (MoM) (MAY)
Medium 1.1%
23:50
JPY Machine Orders
(YoY) (APR)
Medium -4.3% 2.4%
23:50
JPY Domestic
Corporate Goods Price
Index (MoM) (MAY)
Low 0.2% 0.3%
23:50
JPY Domestic
Corporate Goods Price
Index (YoY) (MAY)
Low 0.6% 0.0%
23:50
JPY Loans & Discounts
Corp (YoY) (APR)
Low 1.47%
23:50
JPY Machine Orders
(MoM) (APR)
Low -8.2% 14.2%
Wed
Jun 12
00:30
AUD Westpac
Consumer Confidence
(JUN)
Medium -7.0%
00:30
AUD Westpac
Consumer Confidence
Index (JUN)
Low 97.6
01:30
AUD RBA Credit Card
Balances (APR)
Low $A49.7B
01:30
AUD RBA Credit Card
Purchases (APR)
Low $A20.2B
05:00
JPY Bank of Japan's
Monthly Economic
Report for June (Table)
Low
06:00
EUR German
Consumer Price Index -
EU Harmonised (YoY)
(MAY F)
Medium 1.7% 1.7%

12. 06:00
EUR German
Consumer Price Index
(YoY) (MAY F)
Medium 1.5% 1.5%
06:00
EUR German
Consumer Price Index -
EU Harmonised (MoM)
(MAY F)
Low 0.3% 0.3%
06:00
EUR German
Consumer Price Index
(MoM) (MAY F)
Low 0.4% 0.4%
08:30
GBP Average Weekly
Earnings (3M/(YoY))
(APR)
Medium 0.2% 0.4%
08:30
LIVE
GBP Claimant Count
Rate (MAY)
Medium 4.5% 4.5%
08:30
LIVE
GBP Employment
Change (3M/3M) (APR)
Medium -11K -43K
08:30
GBP ILO
Unemployment Rate
(3M) (APR)
Medium 7.8% 7.8%
08:30
GBP Jobless Claims
Change (MAY)
Medium -5.0K -7.3K
08:30
GBP Weekly Earnings
exBonus (3M/(YoY))
(APR)
Low 0.8% 0.8%
09:00
EUR Euro-Zone
Industrial Production
w.d.a. (YoY) (APR)
Medium -1.1% -1.7%
09:00
EUR Euro-Zone
Industrial Production
s.a. (MoM) (APR)
Low 0.0% 1.0%
11:00
USD MBA Mortgage
Applications (JUN 7)
Low -11.5%
13:00
CAD Teranet/National
Bank HPI (MoM) (MAY)
Low 0.1% 0.2%
13:00
CAD Teranet/National
Bank HPI (YoY) (MAY)
Low 2.0%
13:00
CAD Teranet/National
Bank HP Index (MAY)
Low 153.68
14:30
USD DOE Cushing OK
Crude Inventory (JUN
7)
Low -484K
14:30
USD DOE U.S. Crude
Oil Inventories (JUN 7)
Low -6267K
14:30
USD DOE U.S.
Distillate Inventory
(JUN 7)
Low 2611K
14:30
USD DOE U.S.
Gasoline Inventories
(JUN 7)
Low -366K
18:00
USD Monthly Budget
Statement (MAY)
Medium -$110.0B
21:00
LIVE
NZD Reserve Bank of
New Zealand Rate
Decision (JUN 13)
High 2.50% 2.50%

13. 23:50
JPY Japan Buying
Foreign Bonds (Yen)
(JUN 7)
Medium -¥1172.5B
23:50
JPY Japan Buying
Foreign Stocks (Yen)
(JUN 7)
Medium -¥137.3B
23:50
JPY Foreign Buying
Japan Bonds (Yen)
(JUN 7)
Low -¥119.7B
23:50
JPY Foreign Buying
Japan Stocks (Yen)
(JUN 7)
Low -¥191.1B
Thu
Jun 13
JPY BoJ Board
Member Shirai Speaks
With Business Leaders
Low
JPY Cabinet Office
Monthly Economic
Report for June (Table)
Low
01:00
AUD Consumer
Inflation Expectation
(JUN)
Medium 2.3%
01:30
LIVE
AUD Employment
Change (MAY)
High -10.0K 50.1K
01:30
LIVE
AUD Unemployment
Rate (MAY)
High 5.6% 5.5%
01:30
AUD Full Time
Employment Change
(MAY)
Medium 34.5K
01:30
AUD Part Time
Employment Change
(MAY)
Low 15.6K
01:30
AUD Participation Rate
(MAY)
Low 65.2% 65.3%
06:00
EUR German
Wholesale Price Index
(MoM) (MAY)
Low -0.2%
06:00
EUR German
Wholesale Price Index
(YoY) (MAY)
Low -0.4%
07:15
CHF Producer & Import
Prices (YoY) (MAY)
Medium 0.1% -0.1%
07:15
CHF Producer & Import
Prices (MoM) (MAY)
Low 0.0% 0.2%
08:00
EUR ECB Publishes
Monthly Report
High
12:30
LIVE
USD Advance Retail
Sales (MAY)
High 0.4% 0.1%
12:30
CAD New Housing
Price Index (YoY)
(APR)
Medium 1.9% 2.0%
12:30
USD Initial Jobless
Claims (JUN 8)
Medium 345K 346K
12:30
USD Retail Sales Less
Autos (MAY)
Medium 0.3% -0.1%

14. 12:30
CAD Capacity
Utilization Rate (1Q)
Low 81.5% 80.7%
12:30
CAD New Housing
Price Index (MoM)
(APR)
Low 0.1% 0.1%
12:30
USD Continuing Claims
(JUN 1)
Low 2984K 2952K
12:30
USD Import Price Index
(MoM) (MAY)
Low 0.0% -0.5%
12:30
USD Import Price Index
(YoY) (MAY)
Low -1.4% -2.6%
12:30
USD Retail Sales
"Control Group" (MAY)
Low 0.3% 0.5%
12:30
USD Retail Sales Ex
Auto & Gas (MAY)
Low 0.3% 0.6%
14:00
USD Business
Inventories (APR)
Medium 0.3% 0.0%
14:30
USD EIA Natural Gas
Storage Change (JUN
7)
Low 111
22:30
NZD Business NZ
Performance of
Manufacturing Index
(MAY)
Medium 54.5
22:45
NZD Food Prices
(MoM) (MAY)
Low 0.2%
23:50
JPY Bank of Japan
May 21-22 meeting
minutes
High
Fri
Jun 14
CNY Actual FDI (YoY)
(MAY)
Medium 0.40%
EUR Rome to Host
Meeting on Youth
Employment Before
June EU Summit
Low
03:00
NZD Non Resident
Bond Holdings (MAY)
Low 69.0%
08:30
EUR Italian General
Government Debt
(APR)
Low 2034.7B
08:30
GBP Construction
Output (YoY) (APR)
Low -4.1% -7.4%
09:00
EUR Euro-Zone
Consumer Price Index -
Core (YoY) (MAY F)
High 1.2% 1.2%
09:00
EUR Euro-Zone
Consumer Price Index
(YoY) (MAY F)
High 1.4%
09:00
EUR Euro-Zone
Consumer Price Index
(MoM) (MAY)
Medium 0.1% -0.1%
09:00
EUR Euro-Zone
Employment (YoY)
(1Q)
Medium -0.8%

15. 09:00
EUR Euro-Zone
Employment (QoQ)
(1Q)
Low -0.3%
12:30
USD Current Account
Balance (1Q)
Medium -$111.0B -$110.4B
12:30
USD Producer Price
Index Ex Food &
Energy (YoY) (MAY)
Medium 1.7% 1.7%
12:30
USD Producer Price
Index (YoY) (MAY)
Medium 1.4% 0.6%
12:30
CAD Manufacturing
Shipments (MoM)
(APR)
Low 0.3% -0.3%
12:30
USD Annual Revisions:
Current Account
Low
12:30
USD Producer Price
Index Ex Food &
Energy (MoM) (MAY)
Low 0.1% 0.1%
12:30
USD Producer Price
Index (MoM) (MAY)
Low 0.1% -0.7%
13:15
USD Industrial
Production (MAY)
Medium 0.2% -0.5%
13:15
USD Manufacturing
(SIC) Production (MAY)
Medium 0.2% -0.4%
13:15
USD Capacity
Utilization (MAY)
Low 77.8% 77.8%
13:55
LIVE
USD U. of Michigan
Confidence (JUN P)
High 84.5 84.5
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