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Action Insight Market Overview	Markets Snapshot
Daily Report: Markets Pressured As China Devaluated Yuan Again Asian markets are weighed down by intensifying worry over currency war. China devalued its currency again today by setting the daily midpoint reference to 6.3306 per dollar. Spot yuan dropped even further as low as 6.44 per dollar and hit the lowest level since 2011. Nikkei lost -320 pts or -1.55% while HK HSI dropped -490 pts or -2%. That followed lower close in US with DJIA down -212 pts, or -1.21%. In the currency markets, Australian dollar suffered most and breached recent support of 0.7233 against the greenback. New Zealand dollar follows as the second weakest major currency. Meanwhile, dollar is generally weak against others on talk that China's devaluation of yuan could delay Fed's rate hike. The dollar index is trading back below 97 handle for the moment. In other markets, crude oil extended recent down trend and breached 42 handle. Gold rides on weakness in dollar and is back above 1100. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.7244; (P) 0.7341; (R1) 0.7401; More... AUD/USD's sharp decline and break of 0.7233 support confirms down trend resumption. Intraday bias is back on the downside for long term retracement level at 0.7182 next. Break will target 61.8% projection of 0.9504 to 0.7625 from 0.8161 at 0.7000. On the upside, break of 0.7438 resistance is needed to confirm 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

Economic Indicators Update

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GMT	Ccy	Events	Actual	Consensus	Previous	Revised
23:50	JPY	BOJ Minutes for July 14-15 Meeting
23:50	JPY	Domestic CGPI Y/Y Jul	-3.00%	-2.90%	-2.40%
0:30	AUD	Westpac Consumer Confidence Aug	7.80%		-3.20%
1:30	AUD	Wage Cost Index Q/Q Q2	0.60%	0.60%	0.50%
4:30	JPY	Industrial Production M/M Jun F	1.10%	0.80%	0.80%
4:30	JPY	Tertiary Industry Index M/M Jun	0.30%	0.10%	-0.70%	-0.60%
5:30	CNY	Retail Sales Y/Y Jul	10.50%	10.60%	10.60%
5:30	CNY	Industrial Production Y/Y Jul	6.00%	6.60%	6.80%
5:30	CNY	Fixed Assets Ex Rural YTD Y/Y Jul	11.20%	11.50%	11.40%
8:30	GBP	Jobless Claims Change Jul		1.4K	7.0K
8:30	GBP	ILO Unemployment Rate (3M) Jun		5.60%	5.60%
8:30	GBP	Average Weekly Earnings 3M/Y Jun		2.80%	3.20%
9:00	EUR	Eurozone Industrial Production M/M Jun		-0.10%	-0.40%
9:00	CHF	ZEW (Expectations) Aug			-5.4
14:30	USD	Crude Oil Inventories			-4.4M
18:00	USD	Monthly Budget Statement Jul		-113.5B	51.8B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency surged again today and offers at 1.1050 as well as 1.1065 were filled but sell orders are still noted at 1.1080-85 and 1.1100, selling interest is tipped further out at 1.1125 and 1.1150. On the downside, bids are now seen at 1.1020, 1.0985 and 1.0960-65, buy orders are expected at 1.0950, 1.0900 and 1.0880, buying interest should emerge around 1.0850, 1.0820-25 and 1.0800.

Trade Idea: EUR/GBP - Buy at 0.7045

The single currency has risen again after finding support at 0.7038, consolidation with upside bias remains for the rebound from 0.6951 to extend gain to 0.7145-50, however, above resistance at 0.7161 is needed to signal an upside break of recent range has occurred, bring further gain towards 0.7200 which is likely to hold from here.

Trade Idea: EUR/JPY - Buy at 136.90

Euro rallied after finding renewed buying interest at 135.56 together with the break of previous resistance at 137.35 and 137.80 signal the erratic rise from 133.31 is still in progress and may extend further gain to 138.10-15, then 138.65-70, however, near term overbought condition should limit upside to 139.00 and price should falter well below psychological resistance at 140.00, bring retreat later.