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Action Insight Market Overview	Markets Snapshot
Daily Report: Yen Mildly Higher after Batch of Weak Data Asian markets are stuck in tight range after US stocks closed nearly flat overnight. Yen is mildly higher after a batch of weak data from Japan. National CPI rose slightly by 0.1% yoy in June versus expectation of 0.0%. But Tokyo CPI dropped -0.1% yoy in July versus expectation of 0.0% yoy. Recently, BoJ stayed optimistic that inflation will pick up again towards its 2% target later. But currently, the data showed little progress in achieving this. Doubts remained among economists on whether BoJ could achieve the target at all without additional monetary stimulus. Also from Japan, unemployment rate rose to 3.4% in June versus expectation of 3.3%. Household spending dropped -2.0% yoy in June versus expectation of 1.9% yoy. Full Report Here...
Featured Technical Report
USD/JPY Daily Outlook Daily Pivots: (S1) 123.81; (P) 124.19; (R1) 124.51; More... At this point, there is no follow through buying for USD/JPY to stay above 124.43 resistance yet. But with 123.00 support intact, further rise is still in favor. Sustained trading above 124.43/47 resistance zone will pave the way for a test on 125.58 high. Break will resume the larger up trend. Nonetheless, break of 123.00 will indicate the rebound from 120.40 has completed at 124.47. Also, that will suggest that the consolidation pattern from 125.85 is starting another falling leg. In such case, intraday bias will be turned back to the downside for 120.40 and below. 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

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GMT	Ccy	Events	Actual	Consensus	Previous
23:05	GBP	GfK Consumer Sentiment Jul	4	5	7
23:30	JPY	Jobless Rate Jun	3.40%	3.30%	3.30%
23:30	JPY	Household Spending Y/Y Jun	-2.00%	1.90%	4.80%
23:30	JPY	National CPI Core Y/Y Jun	0.10%	0.00%	0.10%
23:30	JPY	Tokyo CPI Core Y/Y Jul	-0.10%	0.00%	0.10%
1:00	NZD	NBNZ Business Confidence Jul	-15.3		-2.3
1:30	AUD	PPI Q/Q Q2	0.30%		0.50%
1:30	AUD	PPI Y/Y Q2	1.10%		0.70%
5:00	JPY	Housing Starts Y/Y Jun		3.00%	5.80%
6:00	EUR	German Retail Sales M/M Jun		0.30%	0.50%
9:00	EUR	Eurozone Unemployment Rate Jun		11.00%	11.10%
9:00	EUR	Eurozone CPI Estimate Y/Y Jul		0.20%	0.20%
9:00	EUR	Eurozone CPI - Core Y/Y Jul A		0.80%	0.80%
12:30	USD	Employment Cost Index Q2		0.60%	0.70%
12:30	CAD	GDP M/M May		0.00%	-0.10%
13:45	USD	Chicago PMI Jul		50.5	49.4
14:00	USD	U. of Michigan Confidence Jul F		94	93.3

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency has fallen again after brief recovery, bids at 1.0940 were filled but buy orders are still noted at 1.0900 and 1.0880, buying interest is reported at 1.0860, 1.0820-25 and 1.0800, fresh demand is tipped at 1.0780, 1.0750 barrier (stops below) and 1.0720. On the upside, offers are now seen at 1.0980-85, 1.1000 and 1.1020, sell orders are expected at 1.1050, 1.1065 and 1.1080-85, selling interest should emerge around 1.1100, 1.1120 and 1.1160, sellers are awaiting at 1.1185 and 1.1200.

Trade Idea: USD/CAD - Hold long entered at 1.2900

The greenback found renewed buying interest at 1.2862 yesterday and has staged a rebound, retaining our bullishness and above 1.3050-60 would signal the retreat from 1.3103 has ended, bring retest of this level, once this resistance is penetrated, this would extend recent wave iii to 1.3150-60, then 1.3200, however, loss of upward momentum should prevent sharp move beyond 1.3250-60 and price should falter below 1.3300-10, bring correction later.

Trade Idea: AUD/USD - Hold long entered at 0.7285

Although aussie has retreated again after faltering below resistance at 0.7351, as long as this week's low at 0.7257 holds, consolidation with mild upside bias remains for another rebound, above said resistance at 0.7351 would bring recovery to 0.7390-00, however, reckon resistance at 0.7449 (last week's high) would limit upside and resistance at 0.7489 should hold from here, bring another decline later.