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Action Insight Market Overview	Markets Snapshot
Daily Report: Aussie Recovered as RBA Noted Improved Outlook Aussie recovered today after RBA left interest rate unchanged a acknowledged improved outlook. The cash rate was held unchanged at 2.00%. The central bank appeared less concerned over the global developments. As noted in the accompanying statement, the global economy 'is expanding at a moderate pace' and 'volatility in financial markets has abated somewhat for the moment'. It also remained aware of the Fed's potential tightening of monetary policy sometime in the future. Domestically, policymakers acknowledged 'moderate expansion' continued and business surveys suggested a 'gradual improvement in conditions over the past year'. Inflation was still low and should 'remain so, with the economy likely to have a degree of spare capacity for some time yet'. Policymakers forecast that inflation should 'be consistent with the target over the next one to two years, but a little lower than earlier expected'. Full Report Here...
Featured Technical Report
AUD/USD Daily Outlook Daily Pivots: (S1) 0.7124; (P) 0.7138; (R1) 0.7160; More... AUD/USD's recovery from 0.7066 continues today and intraday bias remains neutral. Outlook is unchanged though. Overall, price actions from 0.6905 are viewed as a consolidation pattern and could have completed at 0.7381. Below 0.7066 will target a test on 0.6905 low. Break of 0.6905 will confirm down trend resumption for 61.8% projection of 0.8161 to 0.6905 from 0.7381 at 0.6605 next. In case of further recovery, we'd continue to expect strong resistance from 38.2% retracement of 0.8161 to 0.6905 at 0.7385 to limit upside. 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
3:30	AUD	RBA Rate Decision	2.00%	2.00%	2.00%
9:30	USD	Construction PMI Oct		58.8	59.9
14:45	USD	ISM New York Oct			44.5
15:00	USD	Factory Orders Sep		-0.90%	-1.70%

Orders and Options Watch

US Session: Orders and Options Watch

GBP: The British pound jumped to an intra-day high of 1.5498 before easing, offers are still noted at 1.5500-10 (stops above), more sell orders are reported at 1.5530 and 1.5550. On the downside, bids are raised to 1.5450, 1.5420 and 1.5400-05, buy orders are expected at 1.5380, 1.5350 and 1.5325-30, buying interest should emerge around 1.5300, 1.5285 and 1.5240-50 (stops below).

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Forex Trade Ideas

Trade Idea: EUR/GBP - Sell at 0.7250 or buy at 0.7100

Although the single currency fell again after meeting renewed selling interest at 0.7199 on Friday and marginal weakness towards 0.7100 cannot be ruled out, loss of downward momentum should prevent sharp fall below there and reckon 0.7070 would hold from here, bring rebound later. Above 0.7199 would bring recovery towards resistance at 0.7250 but upside should be limited to 0.7270-75, bring another decline

Trade Idea: USD/CAD - Sell at 1.3190

The retreat from 1.3280 (last week's high) adds credence to our view that top has possibly been formed there and consolidation with downside bias remains for test of support at 1.3040, break there would signal the rebound from 1.2835 (wave a trough) has ended, bring further weakness to 1.3000 but reckon support at 1.2935 would hold from here, bring rebound later.