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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 | Jul 03 15 09:57 GMT
EUR: The single currency edged higher after rebounding from yesterday's low of 1.1032 but offers are still noted at 1.1120-25, 1.1145-50 and 1.1180, more sell orders are reported at 1.1200, 1.1220-25 and 1.1245, selling interest should emerge around 1.1280, 1.1300 and 1.1330, mixture of offers and stops is located at 1.1350. On the downside, bids are raised to 1.1080, 1.1050 and 1.1030, buy orders are expected at 1.1000, 1.0980, 1.0960 and 1.0930, buying interest is tipped at 1.0900, 1.0880 and 1.0850, fresh demand is seen at 1.0825 and 1.0800.
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Daily Report: Post NFP Volatility Limited, Markets Await Greece Referendum Print E-mail
Market Overview | Written by ActionForex.com | Jul 03 15 03:20 GMT
Dollar weakened mildly after yesterday's job report but loss is limited. The set of Non-farm payroll data was seen as mildly disappointing to economists. The expectations for two rate hike before the end of the year was cut down a lot. In particular, the lack of wage growth would give the Fed a lot more room to wage and see. Nonetheless, the expectations of a September hike maintained. Reactions in the financial markets were pretty mild too as traders await the result of referendum in Greece on Sunday. DJIA closed mildly lower by -27.8 pts, or -0.16% at 17730.11 while S&P 500 closed -0.64 pts, or -0.03% lower at 2076.78. Dollar index is staying near to the mid-point of recent range around 96. As US markets are on holiday today, the markets would stay cautious before the weekly close.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 15 15:09 GMT
EUR: The single currency found support around 1.1050 and has recovered again, offers at 1.1120 were filled but sell orders are expected at 1.1145-50 and 1.1170 (stops above 1.1175-80), sellers are tipped at 1.1200, 1.1220-25 and 1.1245, selling interest should emerge around 1.1280 and 1.1300. On the downside, bids are seen at 1.1075-80, 1.1050 and 1.1030 (stops below), more buy orders are reported at 1.1000, 1.0980 and 1.0960, fresh demand should emerge at 1.0930 and 1.0900.
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Mid-Day Report: Dollar Mildly Lower after NFP Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 15 12:53 GMT
Dollar is mildly lower in early US session after a slightly disappointing non-farm payroll report. NFP showed 223k growth in June comparing to expectation of 225k. However, prior month's figure was revised lower from 280k to 254k. Unemployment rate dropped to seven year low of 5.3%. But that was due to more people leaving the workforce as participation rate dropped to 62.6%, the lowest since October 1977. The most disappointing part of the report was wage growth, with average hourly earnings flat mom versus expectation of 0.2% mom. Also from US, initial jobless claims rose 10k to 281k in the week ended June 27. The four week moving average rose 1k to 273.75k. Continuing claims rose 15k to 2.3m in the week ended June 20.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 15 11:05 GMT
EUR: The single currency recovered after falling to 1.1032 yesterday, bids are now seen at 1.1050, 1.1030 and 1.1000, more buy orders are reported at 1.0980 and 1.0960, fresh demand is tipped at 1.0930 and 1.0900. On the upside, offers at 1.1080 were filled but sell orders are expected at 1.1120, 1.1145-50 and 1.1170 (stops above 1.1175-80), sellers are tipped at 1.1200, 1.1220-25 and 1.1245, selling interest should emerge around 1.1280 and 1.1300.
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Daily Report: Dollar Firm as Focus Turns from Greece to NFP Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 15 03:24 GMT
Dollar is firm in Asian session as markets' focus turns temporarily away from Greece to job data from US. Non-farm payroll is expected to show 225k growth in June while unemployment rate is expected to drop to 5.4%. Average hourly earnings are expected to rise 0.2% mom. Leading data for NFP were generally positive. The ADP report showed 237k growth in private sector jobs in the same month, up from prior 203k and beat expectation 211k. The four week moving average of initial claims dropped slightly 1k to 274k on June 20 versus May 30's 275k. The employment component of ISM manufacturing showed impressive improvement to 55.5, up from 51.7. That's also the highest reading this year. Conference Board consumer confidence rose to 101.4, matching the second highest reading this year in March. So overall, the data suggests that we'd likely have a positive NFP reading today which would be dollar supportive. The wild card is in the wage growth figure which might propel the greenback higher in case of up side surprise.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 15 14:04 GMT
EUR: The single currency ran into renewed selling interest at 1.1171 and has fallen again, bids at 1.1100 and 1.1080 were filled but buy orders are still noted at 1.1050 and 1.1030, buying interest is tipped at 1.1000 and 1.0980, fresh demand should emerge around 1.0960, 1.0930 and 1.0900. On the upside, offers are now seen at 1.1120-30, 1.1150 and 1.1170 (stops above 1.1175-80), sell orders are reported at 1.1200 and 1.1220-25, sellers are located at 1.1245 and 1.1280, selling interest is expected 1.1300, 1.1330 and 1.1350.
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Mid-Day Report: Stocks Rebound as Greece Made Concession, Dollar Firm on ADP Job Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 15 13:16 GMT
Stocks markets stage a strong rebound today on news that Greece made concessions in the negotiation with the international creditors. At the time of writing, DAX and CAC are both trading up more than 2.4% and FTSE is up 1.4%. US futures also point to sharply higher open. It's reported that Greek prime minister Alexis Tsipras sent a letter overnight to EC president Jean Claude Juncker, ECB president Mario Draghi and IMF head Christine Lagarde. The letter stated that Tsipras is ready to accept most conditions on the table last week before the talk collapsed and he called a referendum. There were amendments on six areas including VAT reform, fiscal structure measures, pensions, labor markets and product markets. Nonetheless, it's reported that Germany has stated it clear that no agreement could be made before the referendum in Greece this Sunday on July 5.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 15 11:03 GMT
EUR: The single currency slipped briefly below 1.1100 before recovering, however, offers are still noted at 1.1150, 1.1180 and 1.1200, more sell orders are reported at 1.1220-25, 1.1245 and 1.1280, selling interest is tipped at 1.1300, 1.1330 and 1.1350. On the downside, bids are seen at 1.1100, 1.1080 and 1.1050, buy orders are expected at 1.1030, 1.1000 and 1.0980, buying interest should emerge around 1.0960, 1.0930 and 1.0900. Option expires today include: 1.1100 (over 1 bln), 1.1200 (over 1 bln) and 1.1250.
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Daily Report: Euro Mixed on Greece, Yen Firm after Positive Tankan Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 15 04:29 GMT
Euro remains mixed as markets are closely watching the development in Greece. IMF spokesman Gerry Rice confirmed that Greece missed the EUR 1.5b payment after the deadline and that's the largest missed payment in the fund's history. And, Greece would now only receive further funding from IMF after the arrears are cleared. Meanwhile, Greece has asked for an extension earlier yesterday and IMF will consider "in due course". German Chancellor Angela Merkel rejected further talk with Greece before the July 5 referendum called by Greek prime minister Alexis Tsipras. Merkel said rather bluntly that "We'll negotiate about absolutely nothing before the planned referendum is held."
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 15 14:46 GMT
EUR: The single currency found support at 1.1134 and has rebounded, however, offers are still noted at 1.1250 and 1.1275-80 (stops above), more selling interest is tipped at 1.1300-10, and 1.1340-50. On the downside, bids are seen at 1.1130-35, 1.1100-15 (stops below) and 1.1075-80, more buy orders are expected at 1.1050-55, 1.1030 and 1.1000, buying interest should emerge around 1.0980 and 1.0960, fresh demand is located around 1.0930 and 1.0900.
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Mid-Day Report: Greece to Miss IMF Repayment, Markets Steady Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 15 12:48 GMT
Markets are relatively much steady today awaiting further news from Greece regarding the bailout referendum on July 5. Euro is mildly softer against other major currencies but is staying well above Monday's low. European stays in tight right, fluctuating between gains and losses. Meanwhile, US futures point to a strong rebound after S&P 500 suffered the worst one day decline this year yesterday. Greek finance minister Yanis Varoufakis said that the government won't make a EUR 1.54b payment to IMF due today, but they're hoping for a last minute deal with the international creditors. German Chancellor Angela Merkel also said that the door is open for further talks.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 15 09:07 GMT
EUR: The single currency staged a strong rebound after dropping to 1.0954 yesterday, however, euro ran into heavy offers at 1.1278 and has retreated, sell orders are now noted at 1.1200-05, 1.1250 and 1.1275-80 (stops above), more selling interest is tipped at 1.1300-10, and 1.1340-50. On the downside, bids are now seen at 1.1115-20, 1.1100 (stops below) and 1.1075-80, more buy orders are expected at 1.1050-55, 1.1030 and 1.1000, buying interest should emerge around 1.0980 and 1.0960, fresh demand is located around 1.0930 and 1.0900.
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Daily Report: Asian Markets Recovered, Euro Rebounded after Greece Rout Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 15 04:44 GMT
Asian markets recover mildly after the global rout yesterday. Nikkei managed to sty above 20000 handle and is up 0.4% at the time of writing, trading around 20200. Overnight, S&P 500 suffered the worst one day drop this year and lost -43.85 pts, or -2.08% to close at 2057.64. DJIA lost -350.33 pts, or -1.95% to close at 17596.35. US treasury yields also plummeted on flight to safe haven with 30 year yield closed at 3.099, comparing to Friday's 3.250. 10 year yield closed at 2.331 versus Friday's close of 2.476. Gold attempted to rebound on risk aversion but quickly lost steam. Meanwhile, Crude oil dipped back to lower side of recent range. In the currency markets, the Japanese yen remains the strongest major currency this week on risk aversion. Euro staged a strong rebound after initial selloff and is mixed against other currencies. Canadian dollar is indeed the weakest one so far.
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Mid-Day Report: Global Stocks Tumbled on Greece, Euro Pared Losses Print E-mail
Market Overview | Written by ActionForex.com | Jun 29 15 14:50 GMT
Global stocks market tumble sharply on news that Greece is going to hold a referendum on bailout terms with the international creditors. US markets open generally low with DJIA losing more than -120 pts in initial trading. Major European indices are also generally lower with DAX losing -1.8%, CAC losing -2.2% and FTSE losing -0.9% at the time of writing. In the currency markets, Euro plunged deeply as the week opened but pared back much of the losses enter into European session. Yen remains the strongest major currencies on risk aversion.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 29 15 14:18 GMT
EUR: The single currency continued to edge higher after rebounding from 1.0954, offers at 1.1130-40 were filled but sell orders are reported at 1.1170 and 1.1185, sellers are located at 1.1200, 1.1220-25 and 1.1245, selling interest is tipped at 1.1280 and 1.1300. On the downside, bids remain at 1.1050-55, 1.1030 and 1.1000, buy orders are expected at 1.0980 and 1.0960, fresh demand should emerge around 1.0930 and 1.0900.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 29 15 13:43 GMT
EUR: The single currency staged a strong rebound after opening sharply lower to 1.0954, however, offers are still noted at 1.1130-40, 1.1170 and 1.1185, more sell orders are reported at 1.1200, 1.1220-25 and 1.1245, selling interest is tipped at 1.1280 and 1.1300. On the downside, bids are now seen at 1.1050-55, 1.1030 and 1.1000, buy orders are expected at 1.0980 and 1.0960, fresh demand should emerge around 1.0930 and 1.0900. Option expires today include: 1.0945, 1.0950 and 1.1100 (large).
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Daily Report: Euro Broadly Lower as Greek Crisis Intensifies Print E-mail
Market Overview | Written by ActionForex.com | Jun 29 15 02:19 GMT
Euro opened the week sharply lower, together with stock markets as Greek crisis intensified. Greek prime minister Alexis Tsipras called for a referendum on July 5 over the weekend to decide whether to accept the bailout package by the international creditors. That was followed by news that ECB froze the Emergency Liquidity Assistance to Greek banks. Greece then announced that banks will be closed today to prevent collapse in the banking system as depositors would rush to withdraw their money. And, the country also imposed credit control and only a daily limit of EUR 60 is allowed from the cash machines.
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Weekly Review and Outlook: Greece Drama to Continue as Tsipras Called for Referendum Print E-mail
Market Overview | Written by ActionForex.com | Jun 27 15 15:50 GMT
Euro ended last week broadly lower, together with Swiss Franc, on endless Greek debt negotiations. The drama stepped up to another level as Greek prime minister Alexis Tsipras announced on Saturday to hold a referendum on whether to accept the demands of the international creditors. The date for the vote will be on July 5 which is after the deadline of June 30 when Greece is required to repay EUR 1.5b to IMF. Eurozone finance ministers are supposed to meet on Saturday to discuss an extension of bailout program to Greece till November. But it's reported that after the announcement of referendum, Germany has decided not to support the extension. It's viewed by some analysts that even if Greece fails to repay IMF on June 30, it wouldn't be considered a "default" technically. But now, EU leaders are believed to be seriously considering a so called "Plan B" and the uncertainty will only increase with time before the vote. Euro would most likely stay pressured.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 26 15 14:15 GMT
EUR: The single currency continued to meet resistance at indicated level of 1.1220 and offers are still noted at 1.1220, 1.1235-45 and 1.1280, more sell orders are reported at 1.1300 and 1.1330, selling interest is tipped at 1.1350 and 1.1365. On the downside, some bids are seen at 1.1150-55 and 1.1130 (stops below 1.1120), buy orders are expected at 1.1100, 1.1080 and 1.1050, buying interest should emerge around 1.1030 and 1.1000.
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