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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Yen Stays Pressured as Treasury Yields Extend Rally on Fed Expectations The Japanese yen's decline is accelerating again in early US session as treasury yields are extending yesterday's rally. 30 year yield reaches as high as 3.915% so far today, just inch below 2013 high of 3.93% made back in August. 10 year yield also rises and is back above 2.80% level. Expectation, as triggered by FOMC minutes released overnight, that Fed could taper the asset purchase in coming months provided strong support to yields and some support to dollar. Yen was broadly pressured and has more room to decline in near term. Dollar was mildly supported, in particular against commodity currencies, but the strength against European majors were less than impression. Economic data released from US saw initial jobless claims dropped more than expected to 323k in November. PPI rose 0.3% yoy while core PPI rose 1.4% yoy in October. Full Report Here...
Featured Technical Report
GBP/JPY Mid-Day Outlook Daily Pivots: (S1) 160.71; (P) 161.21; (R1) 161.59; More..... GBP/JPY's rally resumes today by taking out 161.75 resistance and accelerates to as high as 162.86 so far. Intraday bias is back on the upside. Considering bearish divergence condition in daily MACD, we'd still be cautious on strong resistance from 163.05 to limit upside and bring reversal. Below 161.75 resistance turned support will turn bias back to the downside for 4 hours 55 EMA (now at 160.43) first. However, sustained trading above 163.05 will indicate strong underlying momentum and would target long term fibonacci level at 168.11 next. 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

GMT	Ccy	Events	Actual	Consensus	Previous	Revised
01:45	CNY	HSBC/Markit Flash Mfg PMI Nov	50.4	50.8	50.9
03:15	JPY	BoJ Decision
07:00	CHF	Trade Balance (CHF) Oct	2.43B	2.60B	2.49B	2.40B
08:00	EUR	French PMI Manufacturing Nov P	47.8	49.5	49.1
08:00	EUR	French PMI Services Nov P	48.8	51	50.9
08:30	EUR	German PMI Manufacturing Nov A	52.5	52	51.7
08:30	EUR	German PMI Services Nov A	54.5	53	52.9
09:00	EUR	Eurozone PMI Manufacturing Nov A	51.5	51.5	51.3
09:00	EUR	Eurozone PMI Services Nov A	50.9	51.9	51.6
09:30	GBP	Public Sector Net Borrowing (GBP) Oct	6.4B	5.1B	9.4B	8.6B
11:00	GBP	CBI Trends Total Orders Nov	11	1	-4
13:30	USD	Initial Jobless Claims (NOV 15)	323K	335K	339K	344K
13:30	USD	PPI M/M Oct	-0.20%	-0.20%	-0.10%
13:30	USD	PPI Y/Y Oct	0.30%	0.30%	0.30%
13:30	USD	PPI Core M/M Oct	0.20%	0.10%	0.10%
13:30	USD	PPI Core Y/Y Oct	1.40%	1.30%	1.20%
15:00	USD	Philly Fed Survey Nov	6.5	15	19.8
15:00	EUR	Eurozone Consumer Confidence Nov A	-15	-14	-14.5
15:30	USD	Natural Gas Storage			20B

Orders and Options Watch

US Session: Orders and Options Watch

EUR: The single currency dropped briefly below 1.3400 before bouncing off low ahead of US opening, offers at 1.3435-50 area were filled, however, sell orders in good size are still seen at 1.3480 and 1.3500 with some stops placed above 1.3520 and 1.3550, mixture of offers and stops is located at 1.3580-90. On the downside, bids are now seen at 1.3430-40 and also in good size at 1.3390-1.3400 with stops building up below 1.3390, buying interest is tipped at 1.3370 and 1.3350 (stops below both levels).

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Forex Trade Ideas

Trade Idea Update: USD/CHF - Hold long entered at 0.9145

Although dollar has retreated after faltering below resistance at 0.9192, as yesterday's strong rebound from 0.9080 signals a temporary low is possibly formed there, consolidation with upside bias remains for gain to indicated resistance at 0.9201 but break there is needed to confirm and indicate the correction from 0.9251 has ended and bring further rise to resistance at 0.9226, however, reckon said recent high would hold on first testing.

Trade Idea Update: EUR/USD - Sell at 1.3510

As the single currency has rebounded after intra-day initial fall to 1.3399, suggesting first leg of decline from 1.3579 (yesterday's high) has ended there and consolidation with initial upside bias is seen, however, reckon 1.3500-10 would attract renewed selling interest and bring another decline later, a break of said support would add credence to our view that top has been formed at 1.3579, bring test of previous support at 1.3390