Action Insight Daily Report 7-16-15

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Daily Report: Euro Weak after Greek Parliament Passed Austerity, Kiwi Tumbles Euro stays weak against dollar, yen and sterling after Greek parliament passed a set of critical austerity measures to secure the new three year bailout that worth EUR 86b. Prime minister Alexis Tsipras's package was passed with 229 votes in favor and 64 votes against in the 300 seat parliament. 38 of Tsipras' ruling party voted against, including former finance minister Yanis Varoufaskis. Focus will now shift to Eurozone finance ministers who will hold a conference call today. Meanwhile, EU is considering to provide a EUR 7b bridge financing to Greece that will cover a EUR 3.5b payment to ECB due on July 20. Another focus is today's ECB meeting, where the central bank is widely expected to keep policies unchanged. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.7324; (P) 0.7406; (R1) 0.7459; More... AUD/USD's break of 0.7371 support indicates down trend resumption. Intraday bias is back on the downside for 100% projection of 0.8161 to 0.7597 from 0.7848 at 0.7284 next. Break will target long term fibonacci level at 0.7182 next. On the upside, break of 0.7487 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery. 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

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GMT Ccy Events Actual Consensus Previous Revised 22:30 NZD Business NZ Manufacturing Index Jun 55.2 51.5 52 22:45 NZD CPI Q/Q Q2 0.40% 0.50% -0.30% 1:00 AUD Consumer Inflation Expectation Jul 3.40% 3.00% 7:15 CHF Retail Sales (Real) Y/Y May 1.90% 1.60% 9:00 EUR Eurozone Trade Balance (EUR) May 22.3B 24.3B 9:00 EUR Eurozone CPI M/M Jun 0.00% 0.20% 9:00 EUR Eurozone CPI Y/Y Jun F 0.20% 0.20% 9:00 EUR Eurozone CPI - Core Y/Y Jun F 0.80% 0.80% 11:45 EUR ECB Rate Decision (JUL 16) 0.05% 0.05% 12:30 CAD International Securities Transactions (CAD) May 10.23B 12.94B 12:30 USD Initial Jobless Claims (JUL 11) 282K 297K 14:00 USD Philly Fed Survey Jul 11.5 15.2 14:00 USD NAHB Housing Market Index Jul 59 59 14:30 USD Natural Gas Storage 91B 20:00 USD Net Long-term TIC Flows May $53.9B
Suggested Readings
Fundamental Highlights The Day Ahead - Thursday 16th July 2015 US Beige Book Provides an Improved Assessment of Current Conditions Asian Session Morning: Fed On Track And Driving Direction USD: Janet Yellen vs. the Markets, Who is Right? Fed Chair Yellen Testimony: More Upbeat than Usual Bank of Canada Cuts Overnight Rate to 0.50%, Downgrades Growth Forecast Technical Highlights AUD/USD – Drops To Six Year Low Near 0.7350 The Daily Forecaster: GBPUSD EURNZD Continues To Fly As The Kiwi Sinks NZDUSD Traders Crying Over Spilt Milk, Could .6400 Be Next? Gold on the Brink as Yellen Talks up 2015 Rate Hike Prospects

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