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Dow +131.05 at 12211.43, Nasdaq +57.08 at 2686.74, S&P +18.76 at 1297.12
EUR/USD above $1.4400 again

EUR/USD quite volatile tosay ahead of the Greek confidence vote this evening. Rate currently holds around $1.4408. Session highs were earlier printed at $1.4420.

Dow +83.52 at 12163.90, Nasdaq +46.98 at 2676.40, S&P +13.92 at 1292.28

The Dow has drifted off of its session high. Among losers are just Boeing (BA 74.16, -0.36), Procter & Gamble (PG 64.79, -0.29) and United Tech (UTX 85.37, -0.18).

USD/JPY set stable a bit higher Y80.00 - at T80.12 now. Bids remain around Y80.00 with stops below.
US focus: Dollar weakens

The dollar fell as stocks and commodities rose, reducing demand for a refuge as the Federal Reserve begins a two-day policy meeting.
The greenback weakened to the lowest versus the euro in almost a week. The shared currency rose as European leaders said a Greek default can be avoided amid speculation Prime Minister George Papandreou will win a confidence vote today.
The euro rose as Greece’s Papandreou seeks to secure multiparty support for his government’s austerity measures. That is a condition for receiving aid needed to avoid a default.
Greece needs parliamentary approval of a 78 billion-euro ($112 billion) package of budget cuts and asset sales.
The greenback remained weaker as National Association of Realtors data showed sales of existing homes decreased in May to the lowest level in six months.  Purchases of existing U.S. homes fell 3.8% to a 4.81 million annual pace last month, in line with estimates.
Meanwhile, economists forecast the Federal Open Market Committee will keep the benchmark interest rate at zero to 0.25 percent tomorrow, where it’s been since December 2008.
Australia’s dollar declined after the nation’s central bank said domestic data had not added “any urgency” to the need for policy adjustment and it may be “prudent” to keep rates unchanged, according to minutes released today of a June 7 policy meeting.
The pound weakened as Bank of England Markets Director Paul Fisher said further bond purchases to stimulate the economy are possible.

Techs on USD/JPY
Resistance 2: Y81.00         
Resistance 1: Y80.60         
Resistance 1: Y80.40        
Current price: Y80.11
Support 1:Y80.00                 
Support 2:Y79.70                  
Support 3:Y79.10

Comments: Rate remains within the range, holding above strong support at Y80.00 (chsnnel line from Jun 08). Break under opens the way to Jun 08 lows around Y79.65/70 (Y79.60 - May 05 lows) and then - to Y79.10/00 (Mar 18 lows). Resistance comes at recent highs on Y80.40. Next band of resistance is around Y80.60 (61.8% Fibo of Y81.10 - Y80.00 decline).

Techs on USD/CHF
Resistance 3: Chf0.8560
Resistance 2: Chf0.8520    

Resistance 1: Chf0.8450
Current price: Chf0.8420
Support 1: Chf0.8370
Support 2: Chf0.8320
Support 3: Chf0.8080

Comments: Dollar weakens, heading to support channel from Jun 07 at Chf0.8370. Break under opens the way down to Chf0.8320 (record lows seen Jun 07 lows). Below support is near channel line from Feb on Chf0.8080. Resistance comes at recens highs on Chf0.8450, then - at Chf0.8520. Stronger level - at  Chf0.8560/65 (channel line).

Techs on GBP/USD
Resistance 3:$1.6380
Resistance 2:$1.6300          
Resistance 1:$1.6260
Current price: $1.6227
Support 1: $1.6180
Support 2: $1.6120
Support 3: $1.6080

Comments: rate tries to recover with strong resistance remains at $1.6260 (50% Fibo of $1.6440 - $1.6080 decline). Clear break above $1.6260 opens the way up to $1.6300 (61.8%). Further band of resistance is around $1.6380 (recent highs). Minor support is around $1.6180, then - at $1.6120. Stronger support remains near $1.6080 (Jun 16 lows).

Techs on EUR/USD
Resistance 3:$1.4500        

Resistance 2:$1.4460          

Resistance 1:$1.4400
Current price: $1.4397
Support 1: $1.4280
Support 2:  $1.4200
Support 3: $1.4120

Comments: Rate challenges resistance at $1.4400 with a break above targets $1.4460/70 (channel line from Jun 16). Key level - at $1.4500 (Jun 14 high). Back under channel support line at $1.4280 to open the way down to $1.4200 and then - to support at $1.4120.

Dow +76.82 at 12157.20, Nasdaq +44.15 at 2673.81, S&P +13.32 at 1291.68

Strength in the tech sector lifted the Nasdaq to a gain of 2%. As a reminder, last week the Nasdaq was at its lowest level in six months. Heavyweights like Apple (AAPL 323.31, +7.99) have been the biggest drivers of the move.
Strength in the broader equity market has the S&P 500 up 1%.

EUR/USD holds higher

EUR/USD holds around $1.4383 after it printed hourly high on $1.4388. Traders still remind about the semi-official supply ahead of $1.4400. Break above opens the way up to a tech resistance around $1.4415.

USD/JPY holds within the range

USD/JPY still holds within the narrow range, limited by Y80.13-Y80.23. Rate remains vulnerable to Greek comments. The market focus is on confidence vote for Greek Prime Minister George Papandreou.  Bids mentioned at Y80.10/00 (Y80.02 - June 17/20 lows), further bids at Y79.95/90. Offers placed between Y80.30/35, with stops through Y80.40. A break here opens Y80.50/55 (also offers/stops). The rate currently trades Y80.10.

HFE: May existing sales pace of 4.81m means "a strong (hsg) recovery is not imminent."
Dow +35.54 at 12115.92, Nasdaq +14.15 at 2643.81, S&P +5.82 at 1284.18

Natural resource plays have sprinted out to an impressive lead over the broad market, which is currently up with a solid gain of its own. Strength in the materials space has the sector up 1.2%. As for energy stocks, they are up 1.1%, as a group.
Meanwhile, financials and tech stocks continue to struggle to attract meaningful support. In turn, both sectors are up with gains of only 0.3%. The two, which are frequently regarded as broad market drivers for their relative market weight and pervasiveness in the economy, have mostly traded in lackluster fashion in recent weeks.

US: May existing home sales -3.8% to a SAAR 4.81 mln
May existing home sales data from the National Association of Realtors are due at 14:00 GMT

Economists expect the pace of existing home buying to slow to 4.79 million annualized units, down from 5.05 million units in April.

Before the bell:

U.S. stocks were set to extend gains Tuesday, following world markets higher, as investors awaited a confidence vote for Greek Prime Minister George Papandreou.
The vote of confidence, held by the Greek parliament, may determine whether Papandreou's government has the strength to avoid a default and secure a rescue package.
Despite ongoing anti-government protests, investors are largely expecting Papandreou to win the vote, said Mark Luschini, chief investment strategist, Janney Montgomery Scott.
U.S. stocks managed gains Monday, even as investors remained cautious about Greece's debt crisis.
World markets:

Economy: Wall Street will get May existing home sales data from the National Association of Realtors at 14:00 GMT. Economists expect the pace of existing home buying to slow to 4.79 million annualized units, down from 5.05 million units in April.
Companies: Credit union regulators sued JPMorgan (JPM, Fortune 500) and Royal Bank of Scotland (RBS) for selling mortgage bonds that were designed to fail -- leading federal credit unions to lose more than $800 million. Shares of JPMorgan rose 0.8%, while Royal Bank of Scotland's stock edged lower.
Shares of Bed Bath & Beyond (BBBY, Fortune 500) jumped more than 4% after Jefferies reaffirmed its "buy" rating and $62 price target for the company's stock -- expecting Bed Bath & Beyond to beat earnings estimates in the first quarter.
Best Buy Inc. (BBY, Fortune 500)'s board authorized a new $5 billion share repurchase program to replace its previous $5.5 billion share repurchase program. Shares of the company rose 4.3% in premarket trading.
Shares of Renren (RENN) gained 2.5% before the market open, after the Chinese social-networking site reported a narrower loss in the first quarter, as sales increased 47%.
Drugstore chain Walgreens (WAG, Fortune 500) reported third-quarter results before the opening bell that beat expectations, posting record earnings and revenue.
Oil for July delivery gained $1.08 to $94.34 a barrel.
Gold futures for August delivery rose $3.10 to $1,545.10 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 2.98% from 2.96% late Monday.

US Treasury Secretary: Geithner said US is in a difficult recovery, will take years for some spots to recover.
Canada: Apr ilretail sales 0.3% m/m vs Mar -0.1%; retail sales ex-autos 0.0% m/m
European session:

The dollar fell against most of its major peers before a report that’s predicted to show new home sales in the U.S. slumped in May, bolstering the case for the Federal Reserve to keep interest rates at a record low.
Purchases of existing U.S. homes decreased 5% to a 4.8 million annual rate in May, the weakest since November, according to the median forecast of economists. April home prices fell 0.3%, the Federal Housing Finance Agency will say tomorrow, according to projections in a separate survey.
Fed Vice Chairman Janet Yellen said June 9 that a “long, drawn-out recovery” was likely for the U.S. housing market. “For its part, the Federal Reserve will continue to use its policy tools to support the economic recovery,” she said.
The dollar weakened to an almost one-week low versus the euro before Fed policy makers begin a two-day meeting amid signs the U.S. economy is slowing. The 17-nation currency rose as European leaders said a Greek default can be avoided and before Prime Minister George Papandreou faces a confidence vote today. It pared gains after a report showed German investor confidence fell.
The pound weakened 0.3 percent to 88.58 pence per euro and was little changed at $1.6195 as Bank of England Markets Director Paul Fisher said further bond purchases to stimulate the economy are possible.

AUD/USD keeps bid tone

Aussie is trading on a bid tone tracking EUR/USD higher. Support remains at $1.0540/30, ahead of bids behind at $1.0500/1.0490. Closest resistance at session high $1.0615/20, a break here opens $1.0675/80.

Greece, Mossialos: 155 passok MPS will support mid-term plan.
UK CAMERON: UK shouldn't be involved in Greek bailouts
European keep positive mood on Tuesday

European shares rose early on Tuesday on expectations that euro zone policymakers can come up with a solution to save Greece from missing its July debt payment and avoid short-term contagion risk to the peripherals.

S&P: Downside risk to US ratings have increased.

One in three chance rating may be downgraded in next 3-years.

EUR/USD back to session low

Rate slips back to retest recent ZEW react lows at $1.4315. Next support seen into $1.4300, ahead of $1.4270. Offers spotted at $1.4335/40 and on approach to $1.4375/80.

EUR/JPY under pressure

Cross has triggered stops through Y114.95 as the euro loses ground. Closest support eyed at Y114.70/65 (5-DMA/session low). A break here to open Y114.30 area. Offers remain at Y115.20/25.

FTSE 5,740 +0.83%, CAC 3,844 +1.18%, DAX 7,212 +0.87%
Option expiries for today's 1400GMT cut:

EUR/USD  $1.4350, $1.4300, $1.4275, $1.4230
USD/JPY Y80.00, Y80.50, Y80.75, Y81.00, Y81.15
GBP/USD $1.6230, $1.6170
EUR/GBP stg0.8800
USD/CHF Chf0.8420
AUD/USD $1.0420, $1.0550, $1.0605, $1.0675
NZD/USD $0.8000

GERMANY: ZEW; Jun econ sent index -9.0
UK DATA: May PSNB-X Stg17.4bn; May PSNCR Stg11.1bn
Asia Pacific stocks close:

Nikkei  9,460  +1.13% 
Hang Seng 21,861  +1.21% 
S&P/ASX 4,508  +1.27% 
Shanghai Composite 2,646  +0.96%

Asian session: The dollar fell


01:30 Australia RBA Meeting's Minutes
04:30 Japan All Industry Activity Index (MoM) (Apr) 1.5%

The dollar fell against a majority of its most-traded peers before a report forecast to show home sales dropped in May to this year’s low, keeping pressure on the Federal Reserve to maintain its accommodative policy.
The euro advanced as European leaders reassured investors a Greek default can be avoided and before data tomorrow forecast to show industrial orders in the region rose in April. 
Australia’s dollar fell after Reserve Bank minutes showed policy makers thought it “prudent” to keep rates unchanged amid concern about Europe.
The dollar also fell as Asian shares advanced for the first time in five days, damping demand for the U.S. currency as a refuge. The MSCI Asia Pacific Index of regional stocks advanced 1.1 percent.

EUR/USD: the pair shown high in $1.4380 area.
GBP/USD: the pair  shown high in $1.6250 area.
USD/JPY: the pair holds on Y80.10-Y80.40.

The main core-European release for Tuesday will be the German ZEW data, which is expected to weaken to readings of 90.0 for the current assessment and -3.0 for the economic sentiment index. 
Events in the UK start at 0810GMT, when Bank of England MPC member Paul Fisher delivers a speech, followed at 0830GMT by the May Public 
Sector Finances are due. 

Forex: Monday's review

The euro rose against the majority its most-traded counterparts after European leaders reassured investors a Greek default on its debts can be avoided, easing concern about a spreading regional credit crisis.
The common currency erased its decline versus the yen and dollar, as Luxembourg’s Jean-Claude Juncker said Italy was not in danger amid the euro area’s debt crisis. The Swiss franc remained higher against all its most-traded counterparts as Juncker said Greek Prime Minister George Papandreou had assured him the government would do everything ensure financial aid before the Greek parliament takes no confidence vote in his government tomorrow.
Greece needs parliamentary approval of a 78 billion-euro package ($111.6 billion) of budget cuts to ensure the payment of a fifth loan under last year’s 110 billion-euro bailout.
The new Greek finance minister, Evangelos Venizelos, who was named in Papandreou’s cabinet overhaul three days ago, came to Luxembourg with a “strong commitment” to the planned cuts that provoked street protests last week.

EUR/USD: on results of yesterday's session the pair grown above  $1.4300.

GBP/USD: on results of yesterday's session the pair grown above  $1.6200.

USD/JPY: the pair holds on Y80.00-Y80.40.

The main core-European release for Tuesday will be the German ZEW data, which is expected to weaken to readings of 90.0 for the current assessment and -3.0 for the economic sentiment index. 
Events in the UK start at 0810GMT, when Bank of England MPC member Paul Fisher delivers a speech, followed at 0830GMT by the May Public 
Sector Finances are due. 

Stocks: Monday's review

Japanese stocks rose from a three- month low as power companies climbed on signs the government may allow atomic reactors to be restarted following the worst nuclear accident in 25 years.
Chubu Electric Power Co., ordered last month to shut operations at its Hamaoka nuclear plant to address safety concerns, surged 7.9 percent.
Kansai Electric Power Co., Japan’s second- largest utility by sales, rising 7.7 percent to 1,420 yen.
Mazda Motor Corp. (7261) jumped 2.1 percent after the automaker said it will return to profit this year and Citigroup Inc. raised its rating to “hold,” citing a recovery in production after Japan’s March earthquake.
Mitsubishi Corp. (8058), the country’s largest commodities trader, dropped 0.8 percent after oil prices fell on a decision by European officials to delay money to help Greece avoid default.
Olympus Corp. (7733), an optical-equipment maker, increased 4.3 percent to 2,787 yen and was the biggest single support for the Nikkei. The company said net income will probably jump to 18 billion yen in the year ending March 31 from 7.38 billion yen a year earlier.
European stocks fell, with the Stoxx Europe 600 Index extending losses into an eighth week, as the region’s governments failed to agree on a payment to spare Greece from default.
Barclays Plc (BARC) dropped 1.8 percent and Lloyds Banking Group Plc (LLOY) fell 2.6 percent as banks accounted for some of the largest losses on the Stoxx 600.
Royal Bank of Scotland Group Plc (RBS) slumped 4.4 percent to 38.5 pence.
Gamesa Corp Tecnologica SA (GAM) dropped 7.1 percent after ING Groep NV recommended selling the shares.
Banca Popolare di Milano Scrl tumbled 7.4 percent to 1.63 euros. Banca Popolare dell’Emilia Romagna Scrl said it’s not planning a combination with Popolare di Milano.
Charter International Plc (CHTR) sank 25 percent to 538.5 pence, for the biggest drop on the Stoxx 600. The industrial-equipment manufacturer fell after forecasting that 2011 profit will miss its previous estimates.
U.S. stocks managed decent gains Monday, even as investors remained cautious about Greece's debt crisis.
Financial stocks JPMorgan Chase (JPM, Fortune 500) and Bank of America (BAC, Fortune 500) were the biggest laggards, while DuPont (DD, Fortune 500) and Caterpillar (CAT, Fortune 500) led the gains.
Companies: Ford Motor Co. (F, Fortune 500) plans to invest $1 billion to revamp its struggling Lincoln brand, the Wall Street Journal reported Sunday, citing dealers briefed on the plan. Shares of the automaker rose 1.3%.
PNC Financial Services Group (PNC, Fortune 500) said early Monday that it will buy the U.S. retail banking division of Royal Bank of Canada (RY) for $3.45 billion. Shares of PNC were down 2%, while share of Royal Bank edged up 0.2%.
Shares of land driller Nabors Industries (NBR) fell 1.8%, after the company trimmed its second-quarter outlook.
Chinese social networking site Renren (RENN) is slated to report results after the market close. Shares of Renren, which went public last month, rose 8%. The stock has declined 50% from its IPO price.

Tech on USD/JPY

Resistance 2: Y81.00 (Jun 3, 15 and 16 high) 

Resistance 1: Y80.70 (Jun 17 high) 
Resistance 1: Y80.40 (Jun 20 high) 
Current price: Y80.17
Support 1:Y80.00 (Jun 17-20 low)  
Support 2:Y79.70 (Jun 8 low)  
Support 3:Y79.55 (low of May)  

Comments: the pair bargains in former frameworks. The immediate resistance - Y80.50. Above growth is possible to Y80.70. The immediate support - Y80.00. Below losses are possible to Y79.70.

Tech on USD/CHF

Resistance 3: Chf0.8550 (Jun 15-16 high)

Resistance 2: Chf0.8520 (Jun 20 high)
Resistance 1: Chf0.8475 (high of american session on Jun 20)
Current price: Chf0.8435
Support 1: Chf0.8400 (Jun 20 low)
Support 2: Chf0.8375 (support line from Jun 7)
Support 3: Chf0.8330 (Jun 7 low)

Comments: the pair has decreased. The nearest support - Chf0,8400. Below loss can will increase up to Chf0.8375. The nearest resistance Chf0.8475. Level Chf0.8520 is Above located. 

Tech on GBP/USD

Resistance 3: $ 1.6410 (resistance line from May 2)

Resistance 2: $ 1.6300 (61.8 % FIBO $1.6400-$ 1.6075)
Resistance 1: $ 1.6255 (session high)
Current price: $1.6216
Support 1 : $1.6200 (sessional minimum)
Support 2 : $1.6130 (support line from Jun 16)
Support 3 : $1.6070 (May 24 and Jun 16 low)

Comments: the pair grown. The nearestimmediate resistance - $1.6255. Above growth is possible to $1.6300. The immediate support $1.6200. Below  decrease is possible to $1.6130. 

Tech on EUR/USD

Resistance 3: $ 1.4500 (area of Jun 14 high)

Resistance 2: $ 1.4460 (the top border of the channel from Jun 16)
Resistance 1: $ 1.4380 (session high)
Current price: $1.4332
Support 1 : $1.4290 (support line from Jun 16 (the bottom border of the channel))
Support 2 : $1.4190 (Jun 12 low)
Support 3 : $1.4125 (Jun 17 low)

Comments: the pair grown. The immediate resistance $1.4380. Above growth is possible to $1,4460. The immediate support $1,4290. Below losses are possible to $1.4190. 

Schedule for today, Monday, Jun 20'2011:

04:30 Japan  All industry index (April) 1.6% -6.3%

08:30 UK PSNCR (May), bln 6.2 3.3
08:30 UK PSNB (May), bln 16.1 7.7
09:00 Germany ZEW economic expectations index (June) -2.2 3.1
10:00 UK CBI industrial order books balance (June) -4% -2%
12:30 Canada Retail sales (April) 0.4% 0.0%
12:30 Canada Retail sales excluding auto (April) 0.5% -0.1%
14:00 USA Existing home sales (May), mln 4.76 5.05


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