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Action Insight: Market Overview

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 29 16 14:56 GMT
EUR: The single currency surged again today and offers at 1.1400 and 1.1420 were filled but sell orders are still noted at 1.1450-60, selling interest should emerge around 1.1480 and 1.1500 (sizeable). On the downside, bids are raised to 1.1410-15, 1.1370 and 1.1340-50, buy orders are expected at 1.1330, 1.1300-10 and 1.1280-85, buying interest is tipped at 1.1250, 1.1220-25 and 1.1200, fresh demand is located at 1.1180 and 1.1150-60.
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Mid-Day Report: Dollar Weak after Personal Income and Spending Print E-mail
Market Overview | Written by ActionForex.com | Apr 29 16 13:05 GMT
Dollar stays soft in early US session and would likely close the week as the second weakest major currency, just after Aussie. US personal income rose 0.4% in March, above expectation of 0.3%. Spending rose 0.1% versus expectation of 0.2%. Core PCE slowed to 1.6% yoy in March. Employment cost index rose 0.6% in Q1. From Canada, GDP dropped -0.1% mom in February, in line with consensus. IPPI dropped -0.6% mom in March while RMPI rose 4.5% mom. Weak dollar is providing extra support to energy and commodities. Gold jumped to as high s 1283 earlier today and continues to press 1280 handle. WTI crude oil and extends recent rally and reaches as high as 46.63.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 29 16 10:24 GMT
EUR: The single currency rose again but met resistance at 1.1414 and price has eased in European morning, suggesting minor consolidation would be seen, however, bids are still noted at 1.1335, 1.1320 and 1.1300, buy orders are reported at 1.1280-85, 1.1250 and 1.1220-25, buying interest is tipped at 1.1200, 1.1180 and 1.1150-60. On the upside, offers are seen at 1.1400, 1.1420 and 1.1450, selling interest should emerge around 1.1480 and 1.1500 (sizeable).
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Daily Report: Dollar Tumbled With Equities, Stays Weak Print E-mail
Market Overview | Written by ActionForex.com | Apr 29 16 03:30 GMT
US equities closed sharply lower overnight as weighed down by selloff in Apple shares, weak economic data and lack of fresh stimulus from Japan's BoJ. DJIA closed down -210.79 pts, or -1.17% at 17830.76. S&P 500 lost -19.34 pts, or 0.92%, and closed at 2075.81. Yen jumped to 18 month high against Dollar, which is sold off broadly. The dollar index also took out recent low of 93.62 and reaches as low as 93.43 so far today. Weakness in dollar boosted gold up to 1280 and would probably resume medium term rebound. Crude oil, continue recent up trend and reaches as high as 45.95 so far.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 28 16 15:36 GMT
EUR: The single currency met resistance at 1.1368 and has retreated, offers are still noted at 1.1370, 1.1385 and 1.1400 (sizeable), sell orders are reported at 1.1420 and 1.1450, selling interest is tipped at 1.1480 and 1.1500 (sizeable). On the downside, bids are seen at 1.1320 and 1.1300, buy orders are expected at 1.1280-85, 1.1250 and 1.1220-25, buying interest should emerge around 1.1200, 1.1180 and 1.1150-60.
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Mid-Day Report: Dollar Soft after Weaker than Expected GDP Print E-mail
Market Overview | Written by ActionForex.com | Apr 28 16 13:10 GMT
Dollar stays soft in early US session after weaker than expected growth data. Also, dollar bulls are rather dissatisfied with the lack of hints on June Fed hike from yesterday's statement. Q1 GDP growth slowed to 0.5%, comparing to prior quarter's 1.4% and missed expectation of 0.7%. GDP price index slowed to 0.7% but beat expectation of 0.5%. Initial jobless claims rose slightly to 257k in the week ended April 23 versus expectation of 252k. The four week moving averaged dropped to 256k, hitting a 42 year low. Continuing claims dropped 5k to 2.13m in the week ended April 16, lowest since November 2000. Dollar is particular weak versus yen, which surged after BoJ kept policies unchanged today. USD/JPY is heading back to recent support at 107.62.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 28 16 12:37 GMT
EUR: The single currency found renewed buying interest at 1.1272 and has risen again, however, offers are still noted at 1.1370, 1.1385 and 1.1400 (sizeable), sell orders are reported at 1.1420 and 1.1450, selling interest is tipped at 1.1480 and 1.1500 (sizeable). On the downside, bids are seen at 1.1335, 1.1320 and 1.1300, buy orders are expected at 1.1280-85, 1.1250 and 1.1220-25, buying interest should emerge around 1.1200, 1.1180 and 1.1150-60. Option expires today include: 1.1275, 1.1280, 1.1300, 1.1315, 1.1325, 1.1330, 1.1340, 1.1365 and 1.1500.
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Daily Report: Yen Surges as BoJ Stands Pat, Dollar Soft after FOMC Print E-mail
Market Overview | Written by ActionForex.com | Apr 28 16 06:16 GMT
Yen jumps today after BoJ kept monetary policies unchanged. Interest was held at -0.1% while target of annual monetary base expansion was maintained at JPY 80T. Meanwhile, BoJ created a JPY 300b loan program to provide funds to financial institutions hit by earthquake, at zero interest. BoJ also lowered inflation forecast and pushed back the timing for meeting 2% target by 6 months. That is, BoJ now projects inflation to climb back to target until March 2018. The move, or the lack of move, caught markets by a surprise and there were some expectations of additional monetary stimulus from this meeting. Yen crosses dived broadly and in general, USD/JPY, EUR/JPY and GBP/JPY are all kept in medium term down trend. Revisit of recent low of 107.62, 121.70 and 151.64 in respective crosses could be seen in near term.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 27 16 17:18 GMT
EUR: The single currency remained confined in familiar range, offers are still noted at 1.1335-40 (stops above 1.1350), 1.1385 and 1.1400 (option related), sell orders are reported at 1.1420 and 1.1450, selling interest is tipped at 1.1480 and 1.1500 (sizeable). On the downside, bids are seen at 1.1280-90 and 1.1250, buy orders are expected at 1.1220-25, 1.1200 and 1.1180, buying interest should emerge around 1.1150-60, 1.1130 and 1.1100.
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Mid-Day Report: Dollar Remains Soft ahead of FOMC Print E-mail
Market Overview | Written by ActionForex.com | Apr 27 16 13:45 GMT
Dollar stays weak for the week, except versus Aussie, as markets await FOMC rate decision and statement. Meanwhile, European stock indices are trading mixed while US futures point to slightly lower open. Gold recovers mildly on Dollar's weakness but is stuck in recent range. Meanwhile, WTI crude oil is extending recent rally and breaches 45 handle. There is basically no chance for Fed to raise interest rate today. And the focus is on whether Fed will give any hint on the chance on a June hike. The could be reflected in a change in balance of risk, or the inflation outlook. Also, another point to note is voting and whether Kansas City Fed president Esther George would be joined by others to vote for a hike this time. There are speculations those might include Cleveland Fed president Loretta Mester and St. Louis Fed president James Bullard.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 27 16 09:57 GMT
EUR: The single currency found support at 1.1280 and rebounded, however, offers are still noted at 1.1335-40 (stops above 1.1350), 1.1385 and 1.1400 (option related), sell orders are reported at 1.1420 and 1.1450, selling interest is tipped at 1.1480 and 1.1500 (sizeable). On the downside, bids are seen at 1.1300, 1.1280 and 1.1250, buy orders are expected at 1.1220-25, 1.1200 and 1.1180, buying interest should emerge around 1.1150-60, 1.1130 and 1.1100. Option expires today include: 1.1100, 1.1200, 1.1215, 1.1250 (large), 1.1300 and 1.1345.
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Daily Report: Aussie Dives after Weak Inflation, FOMC Awaited Print E-mail
Market Overview | Written by ActionForex.com | Apr 27 16 07:03 GMT
Aussie tumbles sharply in Asian session after much weaker than expected inflation data. Headline CPI dropped -0.2% qoq in Q1 versus expectation of 0.2% qoq rise. Annually, CPI slowed to 1.3% yoy, down from 1.7% yoy and was sharply below expectation of 1.8% Yoy. The RBA trimmed mean CPI came in at 0.2% qoq, 1.7% yoy, below expectation of 0.5% qoq, 2.0% yoy. RBA weighted mean CPI rose 0.1% qoq, 1.7% yoy, also well below expectation of 0.5% qoq, 2.0% yoy. Markets react to the data by sharply increasing the pricing of the chance of a rate cut by RBA in May. Cash rate futures are around pricing in around 50% odds of a 25 bps cut, comparing to around 13% odds of cut prior to the data. Technically, it should be noted that last week's high of 0.7833 in AUD/USD was close to an important medium term fibonacci level. And, today's breach of 0.7630 support is taken as a sign of trend reversal.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 26 16 13:28 GMT
GBP: Cable also rallied today and offers at 1.4600 were filled, however, sell orders are still noted at 1.4630 and 1.4650, selling interest is tipped at 1.4680 and 1.4700. On the downside, bids are raised to 1.4540-50, 1.4520, 1.4500 and 1.4485, buy orders are expected at 1.4465, 1.4450 and 1.4420, buying interest should emerge around 1.4400, 1.4385 and 1.4350, fresh demand is located at 1.4320-25 and 1.4300 (stops below).
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Mid-Day Report: Sterling Rally Continues in Otherwise Steady Markets Print E-mail
Market Overview | Written by ActionForex.com | Apr 26 16 13:18 GMT
Sterling continues to surge against other major currencies today in otherwise steady market. Commodity currencies are mildly firmer but strength is limited. Released from US, headline durable goods orders rose 0.8% in March, below expectation of 1.9%. Ex-transport orders dropped -0.2%, also missed expectation of 0.6%. S&P Case Shiller 20 cities house price rose 5.4% yoy in February versus expectation of 5.5% yoy. From UK, BBA mortgage approvals dropped to 45.1k in March.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 26 16 11:48 GMT
EUR: The single currency moved higher in European morning and offers at 1.1280 were filled but sell orders are still noted at 1.1300, 1.1320 and 1.1335, selling interest is tipped at 1.1350, 1.1385 and 1.1400 (option related), sellers are awaiting at 1.1420 and 1.1450. On the downside, bids are seen at 1.1250, 1.1220-25 and 1.1200, buy orders are expected at 1.1180, 1.1150-60 and 1.1130, buying interest should emerge around 1.1100, 1.1080 and 1.1050. Option expires today include: 1.1140 and 1.1400 (large).
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Daily Report: Markets Steady as Fed Hike Clues Awaited Print E-mail
Market Overview | Written by ActionForex.com | Apr 26 16 03:01 GMT
The financial markets are relatively steady so far as markets await FOMC meeting. DJIA closed mildly lower by -26.51 pts, or -0.15%, at 17977.24 overnight. The index lost some upside momentum ahead of 18351.36 historical high. But so far there is no clear sign of topping yet. Nikkei is also steady in Asian session, staying in tight range around break even. US 10 year yield breached 1.9 handle and is showing strength to for 2.0 handle. WTI crude oil retreats mildly and is defending 43 at the moment but the recent up trend remains intact. In the currency markets, Sterling is firm as markets pared Brexit bets but otherwise, major pairs and crosses are stuck in range.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 25 16 15:38 GMT
EUR: The single currency recovered today after finding support at 1.1215, however, offers are still noted at 1.1265, 1.1280 and 1.1300, sell orders are reported at 1.1320, 1.1335 and 1.1350, selling interest is tipped at 1.1385, 1.1400 (option related) and 1.1420, mixture of offers and stops is located at 1.1450. On the downside, bids are seen at 1.1240, 1.1220-25 and 1.1200, buy orders are expected at 1.1180, 1.1150-60 and 1.1130, buying interest should emerge around 1.1100, 1.1080 and 1.1050.
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Mid-Day Report: Sterling Jumps as Markets Pared Brexit Bets Print E-mail
Market Overview | Written by ActionForex.com | Apr 25 16 12:40 GMT
Sterling jumps today on reports of US president Barack Obama's comments on Brexit over the weekend. The odds of a "Yes" result from next month's EU referendum jumped from 63% to 72% according to Betfair. Obama warned that the focus of US "is in negotiating with a big bloc, European Union, to get a trade agreement done". And, UK is "going to be in the back of the queue" in case of an EU exit. Sterling is seen broadly higher today with GBP/USD breaching March high of 1.4514. EUR/GBP also extended recent fall from 0.8116 to as low as 0.7752 so far.
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Daily Report: Forex Markets Steady as Three Central Bank Meetings Awaited Print E-mail
Market Overview | Written by ActionForex.com | Apr 25 16 07:45 GMT
The forex markets are rather steady today as traders await three central bank meetings later in the week, including FOMC, RBNZ and BoJ. Yen pared back some gains as traders turned cautious. USD/JPY surged to a three week high on Friday on speculations of monetary policy adjustment by BoJ this week. It's reported that board members are discussing negative rates on loans, which might come in concert with a deeper cut to the interest rate paid on reserves, after cutting its benchmark rate to -0.1% in January. Technically, yen is staying in medium term up trend against Dollar, Euro and Sterling. But the developments are raising chance of trend reversals with bullish convergence condition in daily MACDs of USD/JPY, EUR/JPY and GBP/JPY. BoJ meeting this week could be the defining momentum medium term direction in Yen.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Apr 22 16 16:21 GMT
EUR: The single currency fell again in European session, bids at 1.1250 were filled but buy orders are still noted at 1.1235 (stops below) and 1.1220, buying interest is tipped at 1.1200, 1.1180 and 1.1150-60, fresh demand is located at 1.1130 and 1.1100. On the upside, offers are seen at 1.1280-85, 1.1310-20 and 1.1335, sell orders are expected at 1.1350, 1.1385, 1.1400 (option related) and 1.1420, selling interest should emerge around 1.1450, 1.1465-70 (sizeable) and 1.1500.
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