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Action Insight Market Overview	Markets Snapshot
Daily Report: Yen Pare Gains as Volatility Continues Sentiments in the financial markets continued to be volatile. The NYSE had the biggest trading halt in two years overnight due to a computer glitch. DJIA ended the day down -261.49 pts, or -1.47% to close at 17515.42, above this week's low of 17465.68. S&P 500 also lost -34.66 pts, or -1.67%, at 2046.68 and held above this week's low of 2044.02. Nikkei follows and is down -260 pts, or -1.3% for the moment after hitting a three month low. Nonetheless, the China market recovers on fresh rescue measures from the government in response to the stock market crash. Hong Kong market also stages a strong rebound. The new measures include banning big shareholders in China from cutting stakes for the next six months. In the currency markets, yen surged sharply yesterday on risk aversion but is retreating mildly today. Full Report Here...
Featured Technical Report
USD/JPY Daily Outlook Daily Pivots: (S1) 119.89; (P) 121.23; (R1) 122.04; More... USD/JPY drops to as low as 120.40 and recovers mildly. But there is no sign of reversal yet. Intraday bias remains on the downside to 118.88 key support level. On the upside, though, break of 122.45 support turned resistance will indicate completion of the fall and will turn bias back to the upside. 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	Revised
23:01	GBP	RICS House Price Balance Jun	40%	37%	34%
23:50	JPY	Machine Orders M/M May	0.60%	-4.60%	3.80%
23:50	JPY	Japan Money Stock M2+CD Y/Y Jun	3.80%	4.00%	4.00%	4.10%
1:30	CNY	CPI Y/Y Jun	1.40%	1.40%	1.20%
1:30	CNY	PPI Y/Y Jun	-4.80%	-4.60%	-4.60%
1:30	AUD	Employment Change Jun	7.3K	0.1K	42.0K	40.0K
1:30	AUD	Unemployment Rate Jun	6.00%	6.10%	6.00%	5.90%
6:00	JPY	Machine Tool Orders Y/Y (JUN P)			15.00%
6:00	EUR	German Trade Balance (EUR) May		20.6B	22.3B
11:00	GBP	BoE Rate Decision		0.50%	0.50%
11:00	GBP	BoE Asset Purchase Target		375B	375B
12:15	CAD	Housing Starts Jun		191K	201.7K
12:30	CAD	New Housing Price Index M/M May		0.20%	0.10%
12:30	USD	Initial Jobless Claims (JUL 4)		277K	281K
14:30	USD	Natural Gas Storage			69B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency continued to edge higher, however, sell orders are still noted at 1.1085, 1.1100 and 1.1120, selling interest is tipped at 1.1145-50, 1.1180 and 1.1200, sellers are awaiting at 1.1220-25 and 1.1245-50. On the downside, bids are seen at 1.1025, 1.1000-10 and 1.0980, more buy orders are expected at 1.0960, 1.0940 and 1.0925, buying interest should emerge around 1.0900, 1.0880, 1.0850 barrier and 1.0825, mixture of bids and stops is located at 1.0800.

Trade Idea: USD/CAD - Buy at 1.2580

As the greenback has retreated after faltering below resistance at 1.2780, suggesting consolidation below this level would be seen and pullback to 1.2640-50 cannot be ruled out, however, reckon 1.2560-70 would limit downside and bring another upmove later, above said resistance would extend recent upmove in wave iii from 1.2128 (wave ii trough) to 1.2800, then 1.2835, however, loss of near term upward momentum should prevent sharp move beyond 1.2875-80

Trade Idea: EUR/GBP - Exit short entered at 0.7210

Current rally in part due to the weakness in sterling suggests temporary low has been formed at 0.6988 and near term upside risk is seen for a stronger rebound to resistance at 0.7251, break there would add credence to this view, bring further gain to 0.7290 (another previous resistance) which is likely to hold from here.