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Action Insight Market Overview	Markets Snapshot
Daily Report: Yen Jumps on Weak Sentiments, Aussie Lower The Japanese yen extends this week's recovery as stocks retreated on profit taking. DOW ended yesterday -67.43 pts lower while S&P 500 also lost -9.54 pts. Risk aversion intensified in Asian session on continuous concern over slowing growth in China. Nikkei is losing -330 pts, or -2.2%, while HK HSI is losing -350 pts, or -1.6% at the time of writing. The Australian dollar overtook Sterling as the weakest currency this week as pressured by weak than expected housing data. In addition, the Aussie was weighed down by selling against Kiwi as RBNZ is expected to hike rates tomorrow. European majors are relatively steady in tight range against the greenback. Full Report Here...
Featured Technical Report
GBP/USD Daily Outlook Daily Pivots: (S1) 1.6590; (P) 1.6621; (R1) 1.6646; More... Intraday bias in GBP/USD remains mildly on the downside for the moment. The consolidation from 1.6822 is still in progress and deeper fall could be seen to 1.6583 support and below. Though, we'd expect strong support at 50% retracement of 1.6251 to 1.6822 at 1.6537 to contain downside to complete the consolidation and bring rebound. On the upside, above 1.6652 minor resistance will turn bias neutral first. Break of 1.6785 will likely extend larger rally from 1.4813 through 1.6822 towards 1.7043 key resistance. 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

GMT	Ccy	Events	Actual	Consensus	Previous	Revised
23:30	AUD	Westpac Consumer Confidence Mar	-0.70%		-3.00%
23:50	JPY	Tertiary Industry Index M/M Jan	0.90%	0.70%	-0.40%	-0.50%
23:50	JPY	BSI Large Manufacturing Q/Q Q1	12.5	11.3	9.7
23:50	JPY	Domestic CGPI Y/Y Feb	1.80%	2.20%	2.40%	2.50%
0:30	AUD	Home Loans Jan	0.00%	0.80%	-1.90%	-3.30%
5:00	JPY	Consumer Confidence Index Feb		40.3	40.5
9:30	GBP	Visible Trade Balance (GBP) Jan		-8.7B	-7.7B
10:00	EUR	Eurozone Industrial Production M/M Jan		0.40%	-0.70%
14:30	USD	Crude Oil Inventories			1.4M
18:00	USD	USD Monthly Budget Statement Feb		-223.2B	-10.4B
20:00	NZD	RBNZ Rate Decision		2.75%	2.50%

Orders and Options Watch

GBP: The British pound also dropped briefly below 1.6600 before recovering in NY opening, bids and stops at 1.6615-20 were tripped but indicated demand remains around 1.6580-90 and further out at 1.6550-60. On the upside, offers are lowered to 1.6655-60, 1.6680-85 and 1.6700-10 with some stops placed above 1.6710, combination of offers and stops is located at 1.6740-60 area.

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Forex Trade Ideas

Trade Idea: EUR/GBP - Buy at 0.8280

The single currency has maintained a firm undertone after recent anticipated rise, reinforcing our bullish view that low has been formed at 0.8158, mild upside bias remains for the rise from there to bring at least a retracement of recent decline to previous resistance at 0.8350 (last month's high), a sustained breach above this level would justify our mildly bullish count that (a)-(b)-(c) correction from 0.8769 has ended

Trade Idea: USD/CAD - Hold long entered at 1.1000

Despite intra-day rise to 1.1131 (same level as last week's high), failure to penetrate this level and current retreat suggest consolidation would be seen and initial pullback cannot be ruled out, however, reckon 1.1040-50 would hold and bring another rise later. A break of said resistance would extend the rise from gain to 1.1160, above there would add credence to our view that the decline from 1.1194 has ended at 1.0955