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Action Insight Market Overview	Markets Snapshot
Daily Report: Dollar Pressured on Dovish FOMC Minutes Dollar was under much selling pressure after released of the dovish and non-committal FOMC minutes overnight but stabilized a bit today. Despite improvement in various macroeconomic indicators, policymakers believed that more evidence is needed to show that inflation is moving toward goal and the job market improvement is sufficient and sustainable, before they would adopt a rate hike. Although one member preferred to hike interest rates in the July meeting, 'most judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point'. The member opting for tightening was also willing to wait for additional data to confirm a judgment to raise the target range. US dollar dropped but bonds strengthened after the minutes on diminished expectations of a rate hike in September. Futures showed that the market is priced in a 36% probability of a rate hike next month, down from about 50% before the minutes were released. Full Report Here...
Featured Technical Report
GBP/JPY Daily Outlook Daily Pivots: (S1) 193.76; (P) 194.39; (R1) 194.77; More..... No change in GBP/JPY's outlook and intraday bias stays neutral first. Rebound from 184.95 is viewed as the second leg of the consolidation pattern from 195.86. Hence, in case of another rise, we'd expect strong resistance from 195.86 to limit upside and bring reversal. Break of 191.96 support will start the third leg of the consolidation and will target 184.95 support. 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
	JPY	BoJ Monetary Policy Statement
6:00	CHF	Trade Balance (CHF) Jul	3.74B	2.59B	3.58B	3.51B
6:00	EUR	German PPI M/M Jul	0.00%	-0.10%	-0.10%
6:00	EUR	German PPI Y/Y Jul	-1.30%	-1.40%	-1.40%
8:30	GBP	Retail Sales M/M Jul	0.10%	0.20%	-0.20%	-0.10%
10:00	GBP	CBI Trends Total Orders Aug		-5	-10
12:30	CAD	Wholesale Sales M/M Jun			-1.00%
12:30	USD	Initial Jobless Claims (AUG 15)		272K	274K
14:00	USD	Existing Home Sales M/M Jul		-1.50%	3.20%
14:00	USD	Leading Indicators Jul		0.20%	0.60%
14:00	USD	Philly Fed Survey Aug		6.2	5.7
14:00	USD	Existing Home Sales Jul		5.41M	5.49M
14:30	USD	Natural Gas Storage			65B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency has retreated after intra-day brief bounce to 1.1076, offers are still noted at 1.1075-85, 1.1100 and 1.1120-25, sell orders are reported at 1.1150, 1.1180 and 1.1200, selling interest is tipped at 1.1220, 1.1245 and 1.1265, sellers are awaiting at 1.1285 and 1.1300. On the downside, bids are now seen at 1.1020, 1.1000 and 1.0985, buy orders are expected at 1.0965 and 1.0950, buying interest should emerge around 1.0930, 1.0900 and 1.0885.

Trade Idea : USD/CHF - Target met and sell at 0.9705

The greenback fell quite sharply yesterday in line with our bearish expectation, our short position entered at 0.9780 met target at 0.9680, this breach of previous support at 0.9678 adds credence to our view that the fall from 0.9903 top is still in progress and may extend weakness towards 0.9615-20 (50% Fibonacci retracement of 0.9330-0.9903), however, oversold condition should limit downside to 0.9600

Trade Idea: EUR/USD - Buy at 1.1085

As the single currency has continued to find good support at 1.1018 yesterday and has rebounded, suggesting pullback from 1.1214 (last week's high) has possibly ended there and consolidation with upside bias is seen for gain to 1.1150 but break of resistance at 1.1189 is needed to add credence to this view, bring retest of 1.1214, then towards 1.1240-50 later.