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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Sterling Tumbles on Dovish BoE Sterling tumbles sharply as BoE lowered both growth and inflation forecast. Also, the MPC noted that "inflation is likely to remain lower than previously expected until late 2017". And, CPI is expected to stay below 1% until second half of 2016, with downside risks. GDP projection was lowed to 2.7% in 2015 and 2.7% in 2016. That compared to prior foreacst of 2.8% and 2.7% respectively. BoE held bank rate unchanged at 0.50% and kept the asset purchase target at GBP 375b as widely expected. Ian McCafferty dissented again and voted for a rate hike. Full Report Here...
Featured Technical Report
GBP/USD Mid-Day Outlook Daily Pivots: (S1) 1.5348; (P) 1.5396; (R1) 1.5432; More... GBP/USD drops sharply today but stays above 1.5241 minor support and intraday bias remains neutral first. Overall outlook is unchanged that near term risk remains on the downside with 1.5658 resistance intact. That is, decline from 1.5929 is expected to continue. Below 1.5241 will target a test on 1.5106 low first. However, decisive break of 1.5685 will confirm near term reversal and bring retest of 1.5929 instead. 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	BOJ Minutes for Oct. 6-7 Meeting
06:45	CHF	SECO Consumer Confidence Oct	-18		-19
07:00	EUR	German Factory Orders M/M Sep	-1.70%	1.00%	-1.80%
08:15	CHF	CPI M/M Oct	0.10%	0.00%	0.10%
08:15	CHF	CPI Y/Y Oct	-1.40%	-1.40%	-1.40%
09:00	EUR	ECB Monthly Bulletin
09:10	EUR	Eurozone Retail PMI Oct	51.3		51.9
10:00	EUR	Eurozone Retail Sales M/M Sep	-0.10%	0.20%	0.00%
10:00	EUR	European Commission Economic Forecasts
12:00	GBP	BoE Rate Decision	0.50%	0.50%	0.50%
12:00	GBP	BoE Asset Purchase Target	375b	375b	375b
12:00	GBP	MPC Official Bank Rate Votes	1--0--8	1--0--8	1--0--8
12:00	GBP	MPC Asset Purchase Facility Votes	0--0--9	0--0--9	0--0--9
12:00	GBP	BoE Quarterly Inflation Report
12:30	USD	Challenger Job Cuts Y/Y Oct	-1.30%		93.20%
13:30	USD	Initial Jobless Claims		262k	260k
13:30	USD	Non-Farm Productivity Q3 P		0.50%	3.30%
13:30	USD	Unit Labor Costs Q3 P		2.00%	-1.40%
15:00	CAD	Ivey PMI Oct			53.7
15:30	USD	Natural Gas Storage			63B

Orders and Options Watch

European Session: Orders and Options Watch

EUR: The single currency bounced off multi-month low of 1.0834 in European morning, however, offers are still noted at 1.0880, 1.0900 and 1.0935-40, more sell orders are reported at 1.0960-70 (stops above) and 1.1000, selling interest is tipped at 1.1020-25, 1.1050 and 1.1075-80. On the downside, bids are now seen at 1.0850, 1.0830-35 and 1.0800, fresh demand should emerge around 1.0785 and 1.0750. Option expires today include: 1.0800 (large), 1.0875, 1.0890, 1.0900, 1.0950 (large) and 1.1000 (1 bln).

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Forex Trade Ideas

Trade Idea Update: USD/CHF - Buy at 0.9900

Dollar's intra-day breach of previous resistance at 0.9958 (last week's high) confirms recent upmove has resumed and bullishness remains for further gain towards psychological resistance at 1.0000 which is likely to hold on first testing and price should falter below 1.0040-50, risk from there is seen for another retreat later.

Trade Idea Update: USD/JPY - Buy at 120.95

Although the greenback has risen again after brief pullback, loss of near term upward momentum should prevent sharp move beyond 122.10-15 (61.8% projection of 118.06-121.51 measuring from 119.99 as well as 1.236 times projection of 119.99-121.49 measuring from 120.26), price should falter below 122.50, risk from there is seen for a retreat to take place later.