Action Insight Mid-Day Report 7-16-14

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Action Insight Market Overview	Markets Snapshot
Mid-Day Report: Dollar Extends Gain as Yellen Testifies Again Dollar continues to strengthen against Euro and Swiss Franc in early US session. PPI was strong than expected, rising 0.4% mom, 1.9% yoy versus consensus of 0.2% mom, 1.8% yoy. PPI core rose 0.2% mom, 1.8% yoy versus consensus of 0.2% mom, 1.6% yoy. TIC capital flow was lower than expected at USD 19.4b in May. Industrial production rose 0.2% in June. The greenback surged yesterday since Fed chair Yellen's testimony. Yellen will testifies again today to House. Fed will also release the Beige Book economic report in US afternoon. Full Report Here...
Featured Technical Report
EUR/USD Mid-Day Outlook Daily Pivots: (S1) 1.3544; (P) 1.3586 (R1) 1.3610; More.... EUR/USD drops further to as low as 1.3525 so far today and intraday bias remains on the downside. Current development suggests that fall from 1.3993 is resuming. Break of 1.3502 will target 1.3476 key support level next. On the upside, above 1.3575 minor resistance will delay the bearish case and turn bias to the upside to extend recent sideway consolidation. 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 22:45 NZD CPI Q/Q Q2 0.30% 0.40% 0.30% 22:45 NZD CPI Y/Y Q2 1.60% 1.80% 1.50% 00:30 AUD Westpac Leading Index M/M Jun 0.10% 0.10% 02:00 CNY GDP YTD Y/Y Q2 7.50% 7.40% 7.40% 02:00 CNY Fixed Assets Ex Rural YTD Y/Y Jun 17.30% 17.20% 17.20% 02:00 CNY Retail Sales Y/Y Jun 12.40% 12.50% 12.50% 02:00 CNY Industrial Production Y/Y Jun 9.20% 9.00% 8.80% 08:30 GBP Jobless Claims Change Jun -36.3K -27.1K -27.4K 08:30 GBP Claimant Count Rate Jun 3.10% 3.20% 08:30 GBP ILO Unemployment Rate (3M) May 6.50% 6.50% 6.60% 09:00 EUR Eurozone Trade Balance (EUR) May 15.3B 16.3B 15.8B 15.2B 09:00 CHF ZEW (Expectations) Jul 0.1 4.8 12:30 CAD Manufacturing Shipments M/M May 1.60% 1.30% -0.10% -0.20% 12:30 USD PPI M/M Jun 0.40% 0.20% -0.20% 12:30 USD PPI Y/Y Jun 1.90% 1.80% 2.00% 12:30 USD PPI Core M/M Jun 0.20% 0.20% -0.10% 12:30 USD PPI Core Y/Y Jun 1.80% 1.60% 2.00% 13:00 USD Net Long-term TIC Flows May 19.4B 27.4B -$24.2B -41.2B 13:15 USD Industrial Production Jun 0.20% 0.30% 0.60% 14:00 CAD BoC Rate Decision 1.00% 1.00% 14:00 USD NAHB Housing Market Index Jul 50 49 14:30 USD Crude Oil Inventories -2.4M 18:00 USD Fed's Beige Book
Forex Trade Ideas
Remark: Due to holiday next week, next Candlestick and Ichimoku Trade Idea update will be made on 21 July (Monday). Candlesticks Intraday Trade Ideas Update Schedule (GMT): 1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530 Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF Elliott Wave Daily Trade Ideas Update Schedule (GMT): AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1430 - 1500
Suggested Readings
Fundamental Highlights FTSE Rallies as M&A Talks, Chinese GDP and US Earnings Underpin Risk Appetite USDJPY Stuck In A Tight Trading Range EUR Heavy Handed While Loonie Bulls Stand Ready European Market Update: UK Earnings Data Highlights The Extent Of Slack Remaining Yellen's 'Less Dovish' Shift Is Not Fully Convincing Technical Highlights NZDUSD Crying Over Spilt Milk Technical Outlook: USDCAD, EURCAD, USDCHF And CADCHF GBPUSD Likely Witness Near-Term Corrective Move EURUSD Elliott Wave Analysis: Bearish Swings In View

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