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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Sterling Tumbles after BoE Super Thursday BoE voted 8-1 to leave the Bank rate unchanged at 0.5% and unanimously to leave the asset purchase program at 375B pound in August. Unlike previously, the central bank today released a 3-page policy statement, the meeting minutes and the quarterly inflation at the same time. Ian McCafferty was the only dissenter as he opted for a 25 bps increase in the policy rate. This is surprising as we, as well as the market in general, had anticipated at least 2 members voting for a rate hike. The minutes suggested that the near-term outlook for inflation is "muted" while the decline in energy prices would weigh on inflation at least until mid-2016. The information sent today was overall more dovish than previously expected. As such, British pound slipped on softer rate hike speculations. Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.5535; (P) 1.5593; (R1) 1.5660; More... Sterling drops sharply today but is being held by 1.5465 support so far. Intraday bias remains neutral first. Break of 1.5465 will indicate that rebound from 1.5329 is completed. more importantly, the fall from 1.5929 is likely resuming. In such case, intraday bias will be turned back to the downside for 1.5329 support first. Meanwhile, above 1.5689 will target 1.5929 resistance and break will extend the larger rise to 61.8% retracement of 1.7190 to 1.4565 at 1.6187. 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
01:30	AUD	Employment Change Jul	38.5K	13.9K	7.3K	7.0K
01:30	AUD	Unemployment Rate Jul	6.30%	6.00%	6.00%	6.10%
05:00	JPY	Leading Index Jun P	107.2	106.9	106.2
05:45	CHF	SECO Consumer Confidence Jul	-19	-8	-6
06:00	EUR	German Factory Orders M/M Jun	2.00%	0.10%	-0.20%
08:10	EUR	Eurozone Retail PMI Jul	54.2		50.4
08:30	GBP	Industrial Production M/M Jun	-0.40%	0.10%	0.40%	0.30%
08:30	GBP	Industrial Production Y/Y Jun	1.50%	2.20%	2.10%	1.90%
08:30	GBP	Manufacturing Production M/M Jun	0.20%	0.10%	-0.60%
08:30	GBP	Manufacturing Production Y/Y Jun	0.50%	0.40%	1.00%
11:00	GBP	BoE Rate Decision	0.50%	0.50%	0.50%
11:00	GBP	BoE Asset Purchase Target	375B	375B	375B
11:00	GBP	MPC Official Bank Rate Votes	1--0--8	2--0--7	0--0--9
11:00	GBP	MPC Asset Purchase Facility Votes	0--0--9	0--0--9	0--0--9
11:00	GBP	Bank of England Inflation Report
11:30	USD	Challenger Job Cuts Y/Y Jul	125.40%		42.70%
12:30	USD	Initial Jobless Claims (AUG 1)	270K	269K	267K
14:00	GBP	NIESR GDP Estimate Jul			0.70%
14:30	USD	Natural Gas Storage			52B

Orders and Options Watch

US Session: Orders and Options Watch

GBP: Cable tumbled after BOE, bids at 1.5570-80, 1.5525-35, 1.5500 and 1.5485 were filled but buy orders are still noted at 1.5465-70 and 1.5450, buying interest should emerge around 1.5425-30 and 1.5400. On the upside, offers are lowered to 1.5555-60, 1.5590-00 and 1.5620-25, sell orders are expected at 1.5640-50 (stops above), 1.5680 and 1.5700-10 (stops above), selling interest is tipped at 1.5725-30 and 1.5750.

Trade Idea Update: GBP/USD - Sell at 1.5555

Cable's intra-day selloff below previous support at 1.5527 (yesterday's low) confirms top has been formed at 1.5690 last week and bearishness is seen for test of previous support at 1.5467, once this level is penetrated, this would signal early rebound from 1.5330 has ended at 1.5690, bring further weakness to 1.5420-30, then 1.5400.

Trade Idea Update: USD/CHF - Buy at 0.9740

As the greenback has maintained a firm undertone after breaking resistance at 0.9719, suggesting recent upmove is still in progress and may extend gain to 0.9857-61 (50% projection of 0.9644-0.9822 measuring from 0.9768 and 1.236 times projection of 0.9549-0.9705 measuring from 0.9668) but near term overbought condition should prevent sharp move beyond 0.9900-10