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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.



Mid-Day Report: Stocks Weighed Down by China Worry Again, Yen Firm Print E-mail
Market Overview | Written by ActionForex.com | Sep 01 15 14:18 GMT
Global equities are once again weighed down by worries over slowdown in China after another batch data was released earlier today. US stocks follow and suffer heavy selling in initial trading. DJIA once loses more than -400 pts and there is no clear sign of stabilizing yet. Additional pressure is seen after worse than expected data. Yen gains across the board today on risk aversion. The ISM manufacturing index dropped to 51.1 in August versus consensus of 52.8. Deteriorations were seen in most components, including production, new orders and inventories. Meanwhile, the employment component also dropped to 51.2, down from 52.7 and hit the lowest level since April. Released from Canada, GDP rose more than expected by 0.5% mom in June.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 01 15 14:08 GMT
EUR: The single currency retreated after intra-day bounce to 1.1332, offers are still noted at 1.1335 and 1.1360 (sizeable), selling interest should emerge around 1.1395-00 (stops above). On the downside, bids are seen at 1.1220-30, 1.1200 and 1.1180 (stops below), more buy orders are expected at 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1120-30 and 1.1100 (stops below barrier at 1.1100).
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 01 15 10:59 GMT
EUR: The single currency rebounded initially today but ran into selling interest at 1.1332, then retreated. At the moment, offers are still noted at 1.1335 and 1.1360 (sizeable), selling interest should emerge around 1.1395-00 (stops above). On the downside, bids are seen at 1.1220-30, 1.1200 and 1.1180 (stops below), more buy orders are expected at 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1120-30 and 1.1100 (stops below barrier at 1.1100). Option expires today include: 1.1085, 1.1175, 1.1200, 1.1250, 1.1300 (over 1.5 bln), 1.1325 and 1.1400.
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Daily Report: Aussie Steady as RBA Stands Pat and Stays Neutral Print E-mail
Market Overview | Written by ActionForex.com | Sep 01 15 04:47 GMT
Aussie stays steady in tight range against dollar after RBA kept cash rate unchanged at 2.00% as widely expected. The central bank maintained a neutral bias and noted that "further information on economic and financial conditions" are needed to determine the assessment of outlook and monetary policy. Regarding recent turmoils in the financial markets, RBA sounded calm and noted "equity markets have been considerably more volatile of late, associated with developments in China, though other financial markets have been relatively stable." Also released from Australia, building approvals rose 4.2% mom in July, current account deficit widened sharply to AUD -19.0b in Q2. From New Zealand, terms of trade index rose 1.3% qoq in Q2.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 31 15 14:26 GMT
EUR: The single currency traded narrowly and further consolidation is in store, buy orders are still noted at 1.1180 and 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1100-10 (stops below barrier at 1.1100). On the upside, offers are now seen at 1.1260-65 and 1.1280, more sell orders are reported at 1.1300-10, 1.1325 and 1.1360 (sizeable), selling interest should emerge around 1.1395-00 (stops above).
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Mid-Day Report: Forex Markets Steady, Heavy Weight Events in Coming Asian Session Print E-mail
Market Overview | Written by ActionForex.com | Aug 31 15 13:01 GMT
The forex markets are generally staying in tight range today even though some extra weakness is seen in Aussie and Kiwi. Traders are cautious ahead of a bunch of key economic data from US to be released later this week. That include ISM indices as well as non-farm payroll. Dollar was supported by slightly more hawkish than expected but there is no follow through buying so far. There are talks that Fed will stand pat in September even in case of strong data this week as it needs more time to assess the development of recent market turmoils. Nonetheless, the August job data would still be crucial for Fed to decide whether to hike in October.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 31 15 09:44 GMT
EUR: The single currency met resistance around 1.1260-63 and has retreated in European morning, bids at 1.1220 and 1.1200 were filled but buy orders are still noted at 1.1180 and 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1100-10 (stops below barrier at 1.1100). On the upside, offers are now seen at 1.1230, 1.1260-65 and 1.1280, more sell orders are reported at 1.1300-10, 1.1325 and 1.1360 (sizeable), selling interest should emerge around 1.1395-00 (stops above). Option expires today include: 1.0900 (huge), 1.1000 (large), 1.1150, 1.1165, 1.1175, 1.1190, 1.1200 (large), 1.1235, 1.1250, 1.1270, 1.1300, 1.1350, 1.1375, 1.1400, 1.1415 (large) and 1.1500 (large).
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Daily Report: Asian Markets Lower on Revived Fed Hike Speculation, Heavy Week Ahead Print E-mail
Market Overview | Written by ActionForex.com | Aug 31 15 03:31 GMT
Asian markets open the week trading generally in red on revived talk of Fed rate hike. Nikkei is trading down -200 pts, or -1%, below 19000 handle at the time of writing. China stocks are also weighed down by confusions over the level of government support on the markets. The Shanghai composite ended a three day recovery and is trading down -3%. In the currency markets, major pairs and crosses are generally in tight range with dollar trading with a mild under tone. Crude oil's rebound lost some steam and is back below 45. Gold is staying in tight range around 1130. Economic data released today so far saw New Zealand building permits rose 20.4% mom in July. NBNZ business confidence dropped to -29.1 in August. Australia TD securities inflation expectation rose 0.1% mom in August. Japan industrial production dropped -0.6% mom in July. German retail sales, Eurozone CPI and Swiss KOF are the main feature in European session. US will release Chicago PMI later in US session.
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Weekly Review and Outlook: Dollar Rebounded after Market Turmoil Print E-mail
Market Overview | Written by ActionForex.com | Aug 29 15 17:48 GMT
It was another week of roller coaster ride in the financial markets with a surprising end. DJIA tumbled to as low as 15370.33, over 1000 pts down from prior week's close of 16459.75. But the index then staged a strong rebound and has indeed closed the week up at 16643.01. Crude oil dipped to as low as 37.75 be rebounded strongly to close the week at 45.22. The dollar index also dropped to as low as 92.62 but rebounded to close at 96.10. The greenback has indeed ended the week as the second strongest major currency, after the Japanese yen. Canadian dollar ended as the third strongest following the rebound in crude oil. Meanwhile, Aussie and Kiwi were the weakest ones. European majors were mixed with Sterling being the weakest.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 28 15 14:22 GMT
EUR: The single currency retreated after meeting resistance at 1.1310 and bids at 1.1265-70 and 1.1250 were filled but buy orders are reported at 1.1225-30 and 1.1200, buying interest should emerge around 1.1185 and 1.1150. On the upside, offers are seen at 1.1275-80, 1.1300-10 and 1.1325, sell orders are expected at 1.1340 and 1.1355-60, more selling interest is tipped at 1.1380, 1.1400 and 1.1425, mixture of offers and stops is located at 1.1450.
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Mid-Day Report: Dollar Firm Despite Mixed Fed Comments Print E-mail
Market Overview | Written by ActionForex.com | Aug 28 15 13:58 GMT
Dollar stays firm today as markets is heading for the weekly closes. There are some mixed comments from Fed officials regarding rate hike. St Louis Fed president James Bullard said that recent market volatility over the past 10 days would "not very much" change the economic outlook as seen by Fed. He noted that if the FOMC meeting happens this week "people would probably say let's wait". However, the meeting is on September 16 and 17. Meanwhile, he also support a non-regular post FOMC press conference for October if interest rate isn't raised in September. And he noted that would make it easier for Fed to explain the liftoff in October. Overall, Bullard is support for a rate hike in near term.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 28 15 09:18 GMT
EUR: The single currency has recovered in European morning and offers at 1.1300 were filled, however, sell orders are still noted at 1.1325, 1.1340 and 1.1355-60, more selling interest is tipped at 1.1380, 1.1400 and 1.1425, mixture of offers and stops is located at 1.1450. On the downside, bids are now seen at 1.1265-70 and 1.250, buy orders are expected at 1.1225-30 and 1.1200, buying interest should emerge around 1.1185 and 1.1150. Option expires today include: 1.1150, 1.1300 and 1.1355 (over 1 bln).
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 15 14:37 GMT
EUR: The single currency has fallen again after brief recovery to 1.1364, bids at 1.1300, 1.1280-85, 1.1265, 1.1250 and 1.1230 were filled but buy orders are reported at 1.1225 and 1.1200, buying interest is tipped at 1.1185 and 1.1150. On the upside, offers are lowered to 1.1275-80 and 1.1300-05, more sell orders are expected at 1.1360-65, 1.1380 and 1.1400, selling interest should emerge around 1.1425 and 1.1450.
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Mid-Day Report: Market Rebound Continues, Dollar Firm Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 15 13:53 GMT
Stock markets are generally higher today following recovery in sentiments. DJIA is trading up over 200 pts in initial trading. Dollar is also supported by better than expected economic data. Q2 GDP growth was revised higher to 3.7%, up fro 2.3% and better than expectation of 3.2%. GDP price index was also revised up to 2.1%. Meanwhile, initial jobless claims dropped 6k to 271k in the week ended August 22. The four week moving average rose slightly from 271.5k to 272.5k. Continuing claims rose 13k to 2.27m in the weekended August 15. While the greenback is so far quite strong as sentiments stabilized, it will face the test of the annual Jackson Hole symposium. And, Fed vice chair Stanley Fischer might finally give a tip on whether Fed will hike interest rate in September.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 15 13:06 GMT
EUR: The single currency has remained under pressure after yesterday's decline but bids are still noted at 1.1300, 1.1280-85 and 1.1265, buy orders are reported at 1.1250, 1.1225-30 and 1.1200, buying interest is tipped at 1.1185 and 1.1150. On the upside, offers are now seen at 1.1360-65, 1.1380 and 1.1400, sell orders are expected at 1.1425 and 1.1450. Option expires today include: 1.1200 (large), 1.1220, 1.1230, 1.1350 and 1.1400.
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Daily Report: Dollar and Stocks Rebounded and Markets Calmed Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 15 05:07 GMT
Wall Street seemed to have responded very well to China's stimulus measures. DJIA surged 619.07 pts, or 3.95%, to close at 16285.51. S&P 500 rose 72.9 pts, or 3.90% to close at 1940.51. That's the biggest percentage gain in the US markets in four years. Asian markets follow with Nikkei trading up more than 250 pts, or 1.4% at the time of writing while Hong Kong HSI rises over 500 pts or 2.5%. However, China's Shanghai composite is mildly up by 1.5% and is still struggling to reclaim 3000 level. In the currency markets, dollar rebounded strongly overnight and stays firm. The greenback is now the second strongest major currency this week next to Japanese yen. Commodity currencies continue to consolidate but stay the weakest. European majors are notably weaker after initial surge earlier in the week.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 26 15 14:26 GMT
GBP: Cable tumbled again in London session, bids at 1.5650-55, 1.5630-35, 1.5625, 1.5600, 1.5585 and 1.5565 were filled, however, some buy orders are still noted at 1.5550 and 1.5525-30, buying interest is tipped at 1.5000. On the upside, offers are lowered to 1.5590-00, 1.5625-30 and 1.5650-55, sell orders are expected at 1.5675-80, 1.5700 and 1.5720-25, selling interest is expected at 1.5750-60, 1.5780-85 and 1.5800.
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Mid-Day Report: Dollar Rebounds on Stabilizing Sentiments Print E-mail
Market Overview | Written by ActionForex.com | Aug 26 15 13:12 GMT
Dollar reversed much of this week's loss as market sentiments continue to stabilize. The greenback is now trading higher against most major currencies for the week except versus yen. There is also some additional support for the greenback in early US session from economic data. Durable goods orders rose 2.0% in July while ex-transport orders rose 0.6%. That's much better than expectation of -0.4% fall and 0.4% rise respectively. The rise is headline orders was also the highest since June 2014. Meanwhile, US futures point to higher open today and DJIA may try to reclaim 16000 handle again. After all, dollar's fate will depend more on Fed vice Stanley Fischer's speech in Jackson Hole later this week.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 26 15 09:16 GMT
EUR: The single currency met resistance at 1.1520 and has retreated, offers are still noted at 1.1520-25, 1.1550 and 1.1565, sell orders are reported at 1.1580, 1.1600 and 1.1620, selling interest is tipped at 1.1650, 1.1680, 1.1700 and 1.1720. On the downside, bids are seen at 1.1465-70 (stops below) and 1.1450, buy orders are expected at 1.1420-25 and 1.1400, buying interest should emerge around 1.1385 and 1.1350. Option expires today include: 1.1300 (large), 1.1400 and 1.1600.
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Daily Report: Markets Stay Weak, Unconvinced by China's Easing Print E-mail
Market Overview | Written by ActionForex.com | Aug 26 15 05:09 GMT
Markets seemed to be unconvinced by China's easing measures announced yesterday. DJIA erased initial bounce and ended -204.91 pts, or -1.29%, down at 15666.44. S&P 500 dropped -25.6 pts, or -1.35%, to close at 1867.61. DJIA dropped over -200 pts for the fourth straight day and that's the longest losing streak of this magnitude in history. Nikkei does rebound today and is trading up 240 pts, or 1.36%, above 18000 handle at the time of writing. But China Shanghai composite and HK HSI just fluctuate between gain and loss. In the currency markets, weakness in commodity currencies continue. Yen remains the biggest winner this week on risk aversion and that's followed closely by Euro and Swiss franc. Dollar and Sterling are stuck in the middle.
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