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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Sentiments Weighed Down by China Yuan Devaluation Global market sentiments are weighed down by China's surprise devaluation of its currency, triggered concerns over currency wars. In Europe, DAX is trading -2% lower, CAC -1.5% lower and FTSE -0.85% lower at the time of writing. US futures also point to sharply lower open. In the currency markets, Aussie is pressured most by the news, followed by New Zealand dollar and Canadian dollar. Euro, on the other hand, is trading broadly higher. Released in US session, US non-farm productivity rose 1.3% in Q2 while unit labor costs rose 0.5%. Canada housing starts dropped to 193k in July. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.0946; (P) 1.0994 (R1) 1.1063; More.... EUR/USD rebounds strongly today but stays below 1.1128 minor resistance and intraday bias remains neutral. Overall, price actions from 1.1466 are viewed as a consolidation pattern. Break of 1.1128 will argue that it has completed and will turn bias to the upside or 1.1436/66 resistance zone. On the downside, break of 1.0807 will extend recent fall from 1.1436. In that case, we'd be cautious on strong support above 1.0461 to bring reversal. 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	BRC Retail Sales Monitor Y/Y Jul	1.20%		1.80%
23:50	JPY	Japan Money Stock M2+CD Y/Y Jul	4.10%	3.90%	3.80%	3.90%
01:30	AUD	NAB Business Confidence Jul	4		10	8
06:00	JPY	Machine Tool Orders Y/Y Jul P	1.60%		6.60%
09:00	EUR	German ZEW (Economic Sentiment) Aug	25	32	29.7
09:00	EUR	German ZEW (Current Situation) Aug	65.7	64.5	63.9
09:00	EUR	Eurozone ZEW (Economic Sentiment) Aug	47.6	43.9	42.7
12:15	CAD	Housing Starts Jul	193K	205K	202.8K	202.3K
12:30	USD	Non-Farm Productivity Q2 P	1.30%	1.10%	-3.10%	-1.10%
12:30	USD	Unit Labor Costs Q2 P	0.50%	-0.20%	6.70%	2.30%
14:00	USD	Wholesale Inventories Jun		0.10%	0.80%

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 Update: GBP/USD - Buy at 1.5535

The British pound has rallied after finding renewed buying interest at 1.5458 yesterday, suggesting low has been formed at 1.5425 last week and consolidation with upside bias is seen for the rebound from there to extend gain to 1.5620-25, however, reckon upside would be limited to previous resistance at 1.5651 (last week's high) and price should falter below another resistance at 1.5679, bring retreat later.

Trade Idea Update: EUR/USD - Buy at 1.1000

As the single currency has risen again after finding renewed buying interest at 1.0960, suggesting near term upside bias remains for the erratic rise from last week's low of 1.0848 to bring retracement of recent decline and gain to 1.1100 would be seen, however, reckon upside would be limited to resistance at 1.1114 and price should falter below another previous resistance at 1.1130, bring retreat later.