No green shoots to speak of in the Beige Book.
Conditions weak or worsened through May Expectations improved but big gains in activity not expected through year-end Labor markets stayed weak Wages falling or flat Residential real estate still weak Retail sales soft credit improved 5 of 12 districts show moderating downward trend Demand for natural resources remain depressed
Stocks remain under pressure, helping support the dollar further. EUR/USD has broken 1.3930 support. USD/CAD stops are eyed above 1.1200.