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Action Insight Market Overview	Markets Snapshot
Daily Report: Aussie Soft on Weak Data, ECB Watched Australian dollar stays soft in Asian session and continues to struggle around 0.7 against the greenback. Trade deficit narrowed to AUD -2.46b in July, smaller than expectation of AUD -3.10b. Nonetheless, that's still the country's 16th consecutive monthly balance of deficit. Also, while exports rose 2% mom, that's mainly thanks to 62% mom rise in non-monetary gold shipments, which should be temporary. On the other hand, imports was steady and rose by less than 0.1% mom. Also from Australia, retail sales dropped -0.1% mom in July, much worse than expectation of 0.4% mom. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.6996; (P) 0.7022; (R1) 0.7063; More... Further fall is still expected in AUD/USD with 0.7152 resistance intact. Sustained trading below 61.8% projection of 0.9504 to 0.7625 from 0.8161 at 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	Revised
1:30	AUD	Trade Balance (AUD) Jul	-2.46B	-3.10B	-2.93B	-3.05B
1:30	AUD	Retail Sales M/M Jul	-0.10%	0.40%	0.70%	0.60%
7:45	EUR	Italy Services PMI Aug		53	52
7:50	EUR	France Services PMI Aug F		51.8	51.8
7:55	EUR	Germany Services PMI Aug F		53.6	53.6
8:00	EUR	Eurozone Services PMI Aug F		54.3	54.3
8:30	GBP	Services PMI Aug		57.6	57.4
9:00	EUR	Eurozone Retail Sales M/M Jul		0.60%	-0.60%
11:30	USD	Challenger Job Cuts Y/Y Aug			125.40%
11:45	EUR	ECB Rate Decision		0.05%	0.05%
12:30	EUR	ECB Press Conference
12:30	CAD	International Merchandise Trade (CAD) Jul		-1.40B	-0.48B
12:30	USD	Initial Jobless Claims (AUG 29)		273K	271K
12:30	USD	Trade Balance Jul		-$44.50B	-$43.84B
14:00	USD	ISM Non-Manufacutring Composite Aug		58.3	60.3
14:30	USD	Natural Gas Storage			69

Orders and Options Watch

US Session: Orders and Options Watch

GBP: Cable recovered after falling 1.5264, bids are still noted at 1.5265, 1.5250 and 1.5220, buying interest is tipped at 1.5190-00 and further out at 1.5160-70. On the upside, offers are seen at 1.5320 and 1.5350, sell orders are expected at 1.5380 and 1.5400, selling interest should emerge around 1.5420 and 1.5450.

Trade Idea: EUR/GBP - Buy at 0.7300

The single currency has staged a strong rebound after finding good support at 0.7246 late last week, suggesting the correction from 0.7423 has possibly ended there and consolidation with upside bias remains for gain to last week's high at 0.7423, however, break there 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

Although the greenback has rebounded after holding above yesterday's low at 1.3117 and consolidation with initial upside bias is seen for gain to 1.3300, break of indicated resistance at 1.3327 (Monday's high) is needed to signal correction from last week's high at 1.3354 has ended, bring retest of this level. Once this resistance is penetrated, this would signal recent upmove has resumed and extend further gain to 1.3390-00, however, this minor wave v of iii should be limited to 1.3440-50