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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Canadian Dollar Rebounds as Inflation and Retail Sales Beat Expectations Canadian dollar recovers strong in early US session after upside surprises in economic data. Headline CPI moderated from 1.5% yoy to 1.1% yoy in February, but beat expectation of 0.9% yoy. Core CPI also moderated, from 1.4% yoy to 1.2% yoy, but also beat expectation of 1.1% yoy. Retail sales rose 1.3% mom in January versus expectation of 0.8% mom. Ex-auto sales rose 1.0% mom versus expectation of 0.9% mom. Markets have priced in disappointment after BoC governor Poloz's comments earlier this week. Thus, the stronger than expected set of data today triggered some squaring of short position. USD/CAD drops sharply in response to the release and confirmed temporary topping at 1.1278. We'd see some consolidations ahead. Full Report Here...
Featured Technical Report
USD/CAD Mid-Day Outlook Daily Pivots: (S1) 1.1222; (P) 1.1250; (R1) 1.1266; More... USD/CAD drops sharply in early US session and the break of 1.1198 minor support indicates temporary topping at 1.1278. Intraday bias is turned neutral for some consolidations. But we'd expect downside for retreat to be contained well above 1.1024 support and bring another rally. Above 1.1278 will extend the larger up trend to 61.8% projection of 1.0181 to 1.1223 from 1.1024 at 1.1668, which is close to the next long term fibonacci level. 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
23:00	AUD	Conference Board Leading Index Jan	0.20%		0.80%
09:00	EUR	Eurozone Current Account (EUR) Jan	25.3B	18.4B	21.3B	20.0B
09:30	GBP	Public Sector Net Borrowing (GBP) Feb	7.5B	7.9B	-6.4B
12:30	CAD	Retail Sales M/M Jan	1.30%	0.80%	-1.80%	-1.90%
12:30	CAD	Retail Sales Less Autos M/M Jan	1.00%	0.90%	-1.40%	-1.50%
12:30	CAD	CPI M/M Feb	0.80%	0.60%	0.30%
12:30	CAD	CPI Y/Y Feb	1.10%	0.90%	1.50%
12:30	CAD	BoC CPI Core M/M Feb	0.70%	0.50%	0.20%
12:30	CAD	BoC CPI Core Y/Y Feb	1.20%	1.10%	1.40%
15:00	EUR	Eurozone Consumer Confidence Mar A		-12.3	-12.7

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency traded sideway today as price consolidating this week's selloff, offers at 1.3800 were filled but sell orders are still noted at 1.3810 and in good size at 1.3830-50 area with stops building up above 1.3850, more sell orders are located at 1.3880 and 1.3900-15. On the downside, bids are reported at 1.3765 and 1.3745-50 (stops below), fresh buying interest is tipped at 1.3700-10 and further out at 1.3670-80.

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Forex Trade Ideas

Trade Idea Update: USD/CHF - Buy at 0.8800

As the greenback has retreated after rising to 0.8869 yesterday, suggesting minor consolidation below this level would be seen, however, downside should be limited to support at 0.8800 (yesterday's low) and bring another rise later, above said resistance would extend the rise from 0.8699 (last week's low) for retracement of recent decline to 0.8890-06 (50% Fibonacci retracement of 0.9082-0.8699 and previous resistance)

Trade Idea Update: GBP/USD - Sell at 1.6580

Cable's recovery after intra-day brief fall to 1.6476 suggests minor consolidation would be seen and corrective bounce to 1.6550 and possibly resistance at 1.6568 cannot be ruled out, however, price should falter below 1.6600 and bring another decline later, a break of said support would extend recent decline from 1.6823 top to 1.6470 (61.8% Fibonacci retracement of 1.6252-1.6823) but loss of momentum should prevent sharp fall below 1.6445-50