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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.



European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 26 14 09:47 GMT
EUR: The single currency edged higher after yesterday's rebound on dollar's broad-based weakness, offers at 1.2450-55 and 1.2460-90 area were filled, however, more sellers are reported at 1.2500-15, 1.2530-40 and 1.2570-80, sell orders are tipped at 1.2600 with more stops placed above 1.2605. On the downside, bids are now seen at 1.2460-65, 1.2450 and in good size at 1.2410-20 with stops building up below 1.2400, more buy orders are expected at 1.2370-75 and 1.2355-60 with stops placed below barrier at 1.2350, more buying interest is tipped at 1.2300-10 and 1.2275-80, followed by mixture of bids and stops at 1.2250. Option expires today include: 1.2350 (large), 1.2400 (1 bln), 1.2430, 1.2450 (large), 1.2475 (large) and 1.2500 (over 1 bln).
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Daily Report: Yields Dip in Quiet Markets Print E-mail
Market Overview | Written by ActionForex.com | Nov 26 14 04:41 GMT
Overall, the financial markets are rather directionless this week. DJIA stayed in tight range around 17800 handle and closed down 0.02% overnight at 17814.94. S&P 500 reached new record high of 2074.21 but closed down -0.12% at 2067.03. The dollar index dipped mildly and is back below 88 handle for the moment after hitting 88.44 earlier this week. Gold is struggling to get through 1200 handle firmly as recent rebound lost some momentum. Meanwhile, crude oil dropped sharply yesterday and is breached 74 level briefly, comparing to this week's high of 77.83 but stayed above recent low at 73.25. The more meaningful move, though, could be find in US treasury yields.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 25 14 14:23 GMT
EUR: The single currency maintained a relatively firm undertone and mixture of offers and stops at 1.2450-55 is in focus, however, more sellers are reported from 1.2460 all the way up to 1.2500, selling interest is seen at 1.2530-40, 1.2570-80 and in good size at 1.2600 with more stops placed above 1.2605. On the downside, bids remain at 1.2410-15, 1.2370-75 and 1.2355-60 with more stops placed below barrier at 1.2350, more buy orders are expected at 1.2300-10 and 1.2275-80, followed by mixture of bids and stops at 1.2250.
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Mid-Day Report: Aussie Dips in Otherwise Ranging Markets Print E-mail
Market Overview | Written by ActionForex.com | Nov 25 14 13:51 GMT
The forex markets are generally staying in tight range in early US session, except that clear weakness was seen in the Australian dollar. Q3 GDP growth in US was revised up to 3.9% annaulized, versus expectation of downward revision to 3.3%. GDP price index was revised higher to 1.4%. Canadian retail sales rose more than exxpected by 0.5% mom in September but exauto sales missed expectation and was flat. Elsewhere, UK BBA mortgage approvals dropped to 37.1k in October. German GDP was finalized at 0.1% qoq in Q3, unrevised. Japan corporate service price index rose 3.6% yoy in October. China conference board leading index rose 0.9% in October.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 25 14 09:57 GMT
EUR: The single currency staged a rebound after opening lower yesterday on better IFO data, offers at 1.2420-40 area were filled but mixture of offers and stops is still noted at 1.2450-55, more sellers are reported from 1.2460 all the way up to 1.2500, selling interest is seen at 1.2530-40, 1.2570-80 and in good size at 1.2600 with more stops placed above 1.2605. On the downside, bids are raised to 1.2410-15, 1.2370-75 and 1.2355-60 with more stops placed below barrier at 1.2350, more buy orders are expected at 1.2300-10 and 1.2275-80, followed by mixture of bids and stops at 1.2250. Option expires today include: 1.2350 (close to 2 bln), 1.2400 and 1.2500 (1 bln).
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Daily Report: Stocks Extended Record Run While Forex Steady Print E-mail
Market Overview | Written by ActionForex.com | Nov 25 14 02:25 GMT
S&P 500 extended the record run overnight and closed 5.91 pts higher at 2069.41 while DJIA also rose 7.84pts at 17817.9. Nikkei followed and played catch up after holiday, and is trading mildly higher up 50 pts at the time of writing. Dallas Fed president Richard Fisher said that he could see inflation climbing up to 2% target. More importantly, he could see inflation "even running over that for a little while" as long as long-term expectations were well anchored. Fisher is known as the most hawkish Fed member but he's set to retire early next year.
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Daily Report: Stocks Extended Record Run While Forex Steady Print E-mail
Market Overview | Written by ActionForex.com | Nov 25 14 02:25 GMT
S&P 500 extended the record run overnight and closed 5.91 pts higher at 2069.41 while DJIA also rose 7.84pts at 17817.9. Nikkei followed and played catch up after holiday, and is trading mildly higher up 50 pts at the time of writing. Dallas Fed president Richard Fisher said that he could see inflation climbing up to 2% target. More importantly, he could see inflation "even running over that for a little while" as long as long-term expectations were well anchored. Fisher is known as the most hawkish Fed member but he's set to retire early next year.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 24 14 14:03 GMT
EUR: The single currency edged higher in European session as German IFO data came in better than expected, offers at 1.2405-10 were filled but sell orders are still noted from 1.2420 all the way up to 1.2450 (every 10 points interval), more sellers are reported at 1.2465-70 and 1.2490-00, selling interest is seen at 1.2530-40, 1.2570-80 and in good size at 1.2600 with more stops placed above 1.2605. On the downside, bids are raised to 1.2370-75 and 1.2355-60 with more stops placed below barrier at 1.2350, more buy orders are expected at 1.2300-10 and 1.2275-80, followed by mixture of bids and stops at 1.2250.
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Mid-Day Report: Euro Mildly Higher on German Ifo Print E-mail
Market Overview | Written by ActionForex.com | Nov 24 14 12:39 GMT
Euro recovers mildly today with a little help from better than expected confidence data. German Ifo business climate rose to 104.7 in November versus expectation of 103.0. Current assessment gauge rose to 110..0 versus expectation of 108.0. Expectations gauge rose to 99.7 versus consensus of 95.5. The gauges ended six straight months of decline. Ifo noted that "the downturn in the German economy has ground to a halt for the moment at least." Ifo economist noted that it's too early to confirm a change in trend but the results was nonetheless a "positive signal". ECB governing council member Ewald Nowotny said that Q1 of next year would be "too early" for additional easing from the central bank. Meanwhile, he hailed that the European Commission is "setting the right priorities by proposing an investment package combined with regulatory reforms targeted toward fostering smart infrastructure, education, research and energy."
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 24 14 09:36 GMT
EUR: The single currency opened lower earlier today but found support just above previous low at 1.2358 and has recovered in Asia, however, offers are still noted from 1.2405-10 all the way up to 1.2450 (every 10 points interval), more sell orders are reported at 1.2465-70 and in good size at 1.2490-00, selling interest is seen at 1.2530-40, 1.2570-80 and in good size at 1.2600 with more stops placed above 1.2605. On the downside, bids remain at 1.2355-60 with more stops placed below barrier at 1.2350, more buy orders are expected at 1.2300-10 and 1.2275-80, followed by mixture of bids and stops at 1.2250. Option expires today include: 1.2400, 1.2425 and 1.2500 (over 1 bln).
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Daily Report: Euro Lower as Markets Eye German Ifo Print E-mail
Market Overview | Written by ActionForex.com | Nov 24 14 02:36 GMT
Euro opens the week lower against dollar as it's still feeling pressure from ECB president Mario Draghi's dovish comments on Friday. Draghi pledged to boost inflation back to 2% target as quickly as possible and hinted that he's open to additional easing. The common currency will look into German business confidence data today for direction. The Ifo business climate index is expected to drop to 103.0 in November, Current situation gauge is expected to drop to 108.0 while expectation is expected to drop to 95.5. All three gauges would have the seventh straight month of decline. ECB would also release the results of another round of covered-bond purchases.
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Weekly Review and Outlook: Yen as the Weakest Currency Again Print E-mail
Market Overview | Written by ActionForex.com | Nov 23 14 03:41 GMT
Yen ended as the weakest currency again last week as prime minister Shinzo Abe finally announced his decision to delay the next sales tax hike and called a snap reaction. Euro and swiss franc followed as the next weakest currencies on dovish comments from ECB president Mario Draghi. Among the European majors, Sterling was clearly the stronger one as lifted by less dovish than expected BoE minutes. Canadian dollar ended as the strongest currency after being pushed higher by stronger than expected inflation reading as well as sign of bottoming in crude oil. Dollar ended as the second strongest currency but the strength was somewhat overshadowed by the rebound in commodity currencies, which was boosted by the surprised rate cut in China. In other markets, US stocks were pushed to new record highs on Friday by PBoC's rate cut and regathered upside momentum again. Treasury yields were stuck in tight range. Gold and crude oil recovered despite the relatively firm dollar.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 21 14 14:16 GMT
EUR: The single currency broke below near term range and tumbled in European session on dovish comments from ECB's Draghi, bids at 1.2490-1.2510 area, 1.2465-70, 1.2440-45 and 1.2420-30 were filled, however, buy orders are still noted at 1.2400 with stops building up below 1.2390, buying interest is noted at 1.2375-80 and 1.2355-60 with more stops placed below barrier at 1.2350. On the upside, offers are lowered to 1.2440, 1.2465-70 and in good size at 1.2490-00, more sell orders are seen at 1.2530-40, 1.2570-80 and in good size at 1.2600 with more stops placed above 1.2605.
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Mid-Day Report: Sentiments Lifted by Surprised PBoC Rate Cut Print E-mail
Market Overview | Written by ActionForex.com | Nov 21 14 13:38 GMT
Stock markets are given a strong boost today by surprised rate cut by China's central bank. European indices are broadly higher at the time of writing with FTSE up over 1%, DAX and CAC up over 2%. US futures also point to sharply higher open and should extend recent record run. In the forex markets, commodity currencies respond positively to the news with Aussie, Kiwi and Loonie all strengthened against the greenback. The People's Bank of China surprised the markets today by cutting interest rates for the first time in more than two years as the economy slowed to the lowest pace in more than five years in Q3. The benchmark one-year loan rate was lowered by 0.40% to 5.6%. The benchmark one year deposit rate was lowered by 0.25% to 2.75%. Also, banks are allowed to offer interest of 1.2 times the deposit rate, up from prior 1.1 times.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 21 14 09:00 GMT
EUR: The single currency remained confined in narrow range and further consolidation is in store, buy orders are still noted at 1.2490-1.2510 area, 1.2465-70 and in good size at 1.2440-45 (stops below), more bids are reported at 1.2420-30 with stops building up below 1.2390, buying interest is noted at 1.2375-80 and 1.2355-60 with more stops placed below barrier at 1.2350. On the upside, offers are seen at 1.2570-80 and in good size at 1.2600 with more stops placed above 1.2605, selling interest should emerge further out at 1.2640-50. Option expires today include: 1.2500 (over 1 bln), 1.2550 (large), 1.2580 (over 1 bln), 1.2615, 1.2620 and 1.2650 (over 2 bln).
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Daily Report: Yen Recovers ahead of Key Support Print E-mail
Market Overview | Written by ActionForex.com | Nov 21 14 08:08 GMT
Yen recovers mildly on oversold condition, with help from comments from finance minster Taro Aso. Aso said today that "the pace of the decline in the past week has been too fast" and such steep swings are undesirable. Nonetheless, economists generally believe that the comments were just concerned about the pace of yen's depreciation rather than the direction. Meanwhile, it should be noted that technically, USD/JPY is close to a key resistance level around 120 handle. Thus, we'd probably see some consolidations in the yen before the down trend gathers momentum again.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 20 14 15:11 GMT
EUR: The single currency slipped and bids at 1.2510-20 were filled, however, buy orders are still noted at 1.2500, 1.2465-70 and in good size at 1.2440-45 (stops below), more bids are reported at 1.2420-30 with stops building up below 1.2390, buying interest is noted at 1.2375-80 and 1.2355-60 with more stops placed below barrier at 1.2350. On the upside, offers are seen at 1.2580 and in good size at 1.2600 with more stops placed above 1.2605, selling interest should emerge further out at 1.2640-50.
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Mid-Day Report: Markets Shrugged Off Weak Eurozone PMIs and Solid UK Sales Print E-mail
Market Overview | Written by ActionForex.com | Nov 20 14 13:50 GMT
The forex markets generally lack directions except clear weakness in yen. Euro's reaction to worse than expected PMI data was mild. Sterling also shrugged off better than expected retail sales. Dollar is also staying in established range against Europeans and commodity currencies. Released from US, CPI was unchanged at 1.7% yoy in October versus consensus of 1.6% yoy. CPI core rose to 1.8% yoy as expected. Initial jobless claims dropped to 291k in the week ended November 15, higher than expectation of 286k. The four week moving average rose slightly by 2k to 287.5k. Continuing claims dropped 73k to 2.33m in the week ended November 89, lowest since December 2000.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 20 14 09:39 GMT
EUR: The single currency rose briefly to 1.2600 overnight in NY, however, euro met selling interest there and has retreated. At the moment, bids are still noted at 1.2510-20, 1.2465-70 and in good size at 1.2440-45 (stops below), more buy orders are reported at 1.2420-30 with stops building up below 1.2390, buying interest is noted at 1.2375-80 and 1.2355-60 with more stops placed below barrier at 1.2350. On the upside, offers are now seen at 1.2580 and in good size at 1.2600 with more stops placed above 1.2605, selling interest should emerge further out at 1.2640-50. Option expires today include: 1.2500 (over 2 bln), 1.2525 (large), 1.2550 (large), 1.2580 (large) and 1.2600 (close to 2 bln).
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Daily Report: Dollar Extends Rally Against Yen, Range Bound Elsewhere Print E-mail
Market Overview | Written by ActionForex.com | Nov 20 14 03:10 GMT
Dollar extends recent up trend against the Japanese yen but remains range bound against other major currencies. The minutes of the October 29 FOMC meeting released overnight provided no revelations. The minutes noted that "many participants observed the committee should remain attentive to evidence of a possible downward shift in longer-term inflation expectations." And, "some of them noted that if such an outcome occurred, it would be even more worrisome if growth faltered." But still, at this point, policy makers believed that inflation expectations remained "well anchored" and would climb back to the 2% target "over the medium term as resource slack diminished." Also, the participants at the meeting "observed that if foreign economic or financial conditions deteriorated further, U.S. economic growth over the medium term might be slower than currently expected."
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