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EUR/USD
Above 1.1208 aims higher for 1.1467 and 1.1680

Gold – Remains Steady Around $1190
Earlier last week gold fell sharply back through the key $1200 level and spent the remainder of the week consolidating in a narrow range around $1190. It has began this new week doing the same trading in a very narrow range right around $1190. The $1200 level has been a significant level throughout most of this year and remains a key level presently offering reasonable resistance to higher prices.

Throughout the last month or so the $1180 level has provided some support and has been called upon recently. Earlier in May it was able to make a run through the $1200 level to reach a three month high above $1230 however gold was quickly sold off and returned back to the $1200 level where it enjoyed some support for several days. For around two months through April gold traded in a range between $1180 and around $1220 and had very few excursions outside these limits.

The AUDUSD is down on the day and is trading at the lowest level since April 15. The low came in at 0.7597. The low closing price going back to May 2009 comes in at 0.7984. The low for the year (going back to May 2009) is 0.7532.

When you are within 100 pips of 7 year lows, I guess you can say the market is going into the RBA meeting near lows, and is pricing in bearish news. More specifically an explicit easing bias being put back in the statement.

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he EUR/USD pair fell during the session on Friday, but as you can see found support at the 1.33 level again, and bounced yet again to form the third hammer in a row. We are approaching the downtrend line on the weekly chart, and believe that the 1.34 level will be resistance as well. Because of this, we think there’s a real fight on our hands up in this area, and as a result will be watching this downtrend line with interest. On a move above the 1.34 handle that includes a daily close, we would become buyers of the Euro appear. On the other hand, if we managed to break down below the 1.33 handle, with all of these hammers that would be a very negative sign.

Acro Expand Consumer Price Index (CPI);

Change in the price of goods and services purchased by consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 16 days after the month ends;
Next Release Jul 16, 2013
FF Notes This is considered the UK's most important inflation data because it's used as the central bank's inflation target;
Why Traders
Care Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;
Derived Via The average price of various goods and services are sampled and then compared to the sampling done a year earlier;

Core Machinery Orders m/m

Change in the total value of new private-sector purchase orders placed with manufacturers for machines, excluding ships and utilities;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 40 days after the month ends;
Next Release Jul 10, 2013
Why Traders
Care It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders;
Also Called Machine Orders;