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Action Insight Market Overview	Markets Snapshot
Daily Report: Commodity Currencies Stay Pressured ahead of Weekly Close The stock markets are generally steady as markets are going to end a volatile week. Asian indices are bounded in tight range today so far with Nikkei down -0.2% at the time of writing. China's Shanghai composite is mildly up by 0.5% but is held below 4000 handle. That followed another day of nearly flat close in US overnight. DJIA rose 0.03% at 17408.34 while S&P 500 dropped -0.13% at 2083.39. Nonetheless, crude oil extended recent down trend and slid to 6.5 year low, breaching 42 handle. In the currency markets, New Zealand dollar is suffering some renewed selling pressure after weaker than expected retail sales data. Aussie closely followed for its close tie with China. Canadian dollar is under some mild pressure on crude oil's weakness while dollar is mixed. Euro, on the other hand, is so far the strongest major currency this week. Full Report Here...
Featured Technical Report
USD/CAD Daily Outlook Daily Pivots: (S1) 1.2981; (P) 1.3036; (R1) 1.3113; More... USD/CAD recovers mildly and is straying in range below 1.3213 resistance. Intraday bias remains neutral for the moment. Further rise is still expected as long as 1.2859 support holds. Above 1.3213 will target next projection level at 1.3287. Meanwhile, break of 1.2859 will confirm near term topping with bearish divergence condition in 4 hours MACD. In such case, deeper pull back would be seen back to 55 days EMA (now at 1.2776). 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
22:45	NZD	Retail Sales Q/Q Q2	0.10%	0.50%	2.70%	2.30%
5:30	EUR	French GDP Q/Q Q2 P		0.20%	0.60%
6:00	EUR	German GDP Q/Q Q2 P		0.50%	0.30%
8:00	EUR	Italian GDP Q/Q Q2 P		0.30%	0.30%
8:30	GBP	Construction Output M/M Jun		2.40%	-1.30%
9:00	EUR	Eurozone GDP Q/Q Q2 A		0.40%	0.40%
9:00	EUR	Eurozone CPI M/M Jul		0.00%	0.00%
9:00	EUR	Eurozone CPI Y/Y Jul F		0.20%	0.20%
9:00	EUR	Eurozone CPI - Core Y/Y Jul F		1.00%	1.00%
12:30	CAD	Manufacturing Shipments M/M Jun		2.10%	0.10%
12:30	USD	PPI M/M Jul		0.10%	0.40%
12:30	USD	PPI Y/Y Jul		-0.90%	-0.70%
12:30	USD	PPI Core M/M Jul		0.10%	0.30%
12:30	USD	PPI Core Y/Y Jul		0.50%	0.80%
13:15	USD	Industrial Production Jul		0.30%	0.30%
13:15	USD	Capacity Utilization Jul		78.00%	78.40%
14:00	USD	U. of Michigan Confidence Aug P		94	93.1

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency traded lower after retreating from yesterday's high of 1.1214, bids at 1.1100 and 1.1085 were filled but buy orders are still noted at 1.1050 and 1.1020, buying interest is tipped at 1.1000 and 1.0985, fresh demand is located at 1.0965, 1.0950 and further out at 1.0900. On the upside, offers are lowered to 1.1125, 1.1150-55 and 1.1180, selling interest is expected at 1.1200, 1.1220 (stops above) and 1.1245-50.

Trade Idea: EUR/GBP - Buy at 0.7085

As the single currency has maintained a firm undertone after this week's strong rebound, consolidation with upside bias remains for another leg of corrective rise from 0.6936 low to take place, bring further gain towards 0.7200 but reckon another previous resistance at 0.7224 would hold from here, risk from there is seen for a retreat later this week.

Trade Idea: EUR/JPY - Buy at 137.70

The single currency has maintained a firm undertone after recent rally above previous resistance at 137.80, bullishness remains for the erratic rise from 133.31 to extend further gain to 139.15-20, then 139.60-70, however, near term overbought condition should limit upside today and price should falter well below psychological resistance at 140.00, bring retreat later.