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Action Insight Market Overview	Markets Snapshot
Daily Report: Risk Aversion Continues, Aussie Lower on GDP Miss US equities tumbled overnight with DJIA losing -469.68 pts, or -2.84% to close at 16058.35, after breaching 16000 handle. S&P 500 also dropped -58.33 pts, or -2.96%, to close at 1913.85. Asian markets opened lower but quickly recovered. Sentiments were weighed down by renewed worry over slowdown in China and spillover to the global economy. IMF chief Christine Lagarde said yesterday that global growth was expected to remain moderated and would likely be "weaker than we anticipated last July". She noted two forces in play, "a weaker than expected recovery in advanced economies" and "a further slowdown in emerging economies, especially in Latin America". Also, Lagarde warned that Asia's growth was "turning out slower than expected" and may slow even further due to "recent spike in global risk aversion and financial market volatility". Regarding China, she noted that "unwinding of risks built up in recent years is complex and could well be somewhat bumpy." But she remained confidence that "the authorities have the policy tools and financial buffers to manage this transition." Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.6968; (P) 0.7061; (R1) 0.7107; More... AUD/USD's down trend resumed and met 61.8% projection of 0.9504 to 0.7625 already. Intraday bias remains on the downside for deeper decline. Sustained trading below 0.7000 will pave the way to 100% projection at 0.6282. On the upside, break of 0.7152 resistance is needed to be first signal of 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
23:50	JPY	Monetary Base Y/Y Aug	33.30%	33.20%	32.80%
1:30	AUD	GDP Q/Q Q2	0.20%	0.40%	0.90%
8:30	GBP	Construction PMI Aug		57.5	57.1
9:00	EUR	Eurozone PPI M/M Jul		-0.10%	-0.10%
9:00	EUR	Eurozone PPI Y/Y Jul		-2.10%	-2.20%
12:15	USD	ADP Employment Change Aug		200K	185K
12:30	USD	Non-Farm Productivity Q2 F		2.50%	1.30%
12:30	USD	Unit Labor Costs Q2 F		-0.70%	0.50%
14:00	USD	Factory Orders Jul		0.70%	1.80%
14:30	USD	Crude Oil Inventories			-5.5M
18:00	USD	Fed Beige Book

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency retreated after intra-day bounce to 1.1332, offers are still noted at 1.1335 and 1.1360 (sizeable), selling interest should emerge around 1.1395-00 (stops above). On the downside, bids are seen at 1.1220-30, 1.1200 and 1.1180 (stops below), more buy orders are expected at 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1120-30 and 1.1100 (stops below barrier at 1.1100).

Trade Idea: EUR/GBP - Buy at 0.7280

The single currency found good support at 0.7245 and has rebounded, suggesting the correction from 0.7423 has possibly ended there and consolidation with upside bias is seen for gain to 0.7400 but break of last week's high at 0.7423 is needed to confirm recent upmove has resumed and extend gain to 0.7450, then towards 0.7475-80, otherwise, further consolidation is in store.

Trade Idea: USD/CAD - Stand aside

Despite yesterday's brief bounce to 1.3327, the subsequent retreat has retained our view that further consolidation below last week's high of 1.3354 would be seen and another corrective fall to 1.3100, then towards support at 1.3060 cannot be ruled out, however, only break of latter level would add credence the view that top has been formed, then fall to indicated support at 1.3016-24 would follow