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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 | Sep 18 14 15:23 GMT
EUR: The single currency continued to recover in part due to the release of soft US data, offers at 1.2890-00 were filled but sell orders are still noted at 1.2925 and 1.2950, more offers are located at 1.2975-85, 1.3000 and 1.3025 (stops above), selling interest is tipped further out at 1.3035, 1.3050-60, 1.3085 and 1.3100-10. On the downside, bids are raised to 1.2880, 1.2855-60 and 1.2825-35, more buy orders are seen at 1.2800, 1.2785 and 1.2750, fresh demand should emerge around 1.2725 and 1.2700.
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Mid-Day Report: Dollar Firm after Mixed Data Print E-mail
Market Overview | Written by ActionForex.com | Sep 18 14 12:55 GMT
Dollar stays firm against Yen and Aussie after mixed US data. USD/JPY reaching six year high of 108.95 and is on course for 110 handle. Meanwhile, AUD/USD staying soft below 0.9 handle. On the other hand, the greenback is struggling to extend gain against European majors. In particular GBP/USD recovers as the Scottish independence referendum started today and the would likely be result next morning. Economic data released from US saw initial jobless claims dropped to 280k in the weekended September 13. Housing starts dropped to 0.96m in August while building permits dropped to 1.00m. Canada international securities transactions rose to CAD 5.3b in July. Elsewhere, CBI trends total orders -4 in September, retail sales rose 0.4% mom in August. Swiss trade surplus narrowed to CHF 1.39b in August. New Zealand GDP rose more than expected by 0.7% qoq in Q2. Japan trade deficit narrowed to JPY -0.92T in August.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 18 14 09:09 GMT
EUR: The single currency recovered after overnight selloff to 1.2835 on FOMC, however, offers are still noted at 1.2890-00, 1.2925 and 1.2950, more sell orders are located at 1.2975-85, 1.3000 and 1.3025 (stops above), selling interest is tipped further out at 1.3035, 1.3050-60, 1.3085 and 1.3100-10. On the downside, bids are raised to 1.2850-55, 1.2825-35 and 1.2800, more buy orders are seen at 1.2785 and 1.2750, fresh demand should emerge around 1.2725 and 1.2700.
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Daily Report: Dollar Extends Post FOMC Rally, SNB and Scottish Referendum Watched Print E-mail
Market Overview | Written by ActionForex.com | Sep 18 14 04:24 GMT
Dollar strengthened overnight after FOMC announcement and stays firm in Asian session today. Market reactions suggested that investors viewed the September FOMC meeting as a hawkish one although the Fed retained the language that 'it likely will be appropriate to maintain the current target range for the federal funds rate for a considerable time after the asset purchase program ends'. Meanwhile, the Fed continued QE tapering and announced a further US$10B reduction in asset purchases. On the accompanying statement, it is stated clearly that the asset purchase program would end at its next meeting. The Fed's latest set of economic projection showed somehow downward revision on the growth outlook. The mildly lower growth outlook did not tamper the expectations of an earlier rate hike schedule with the members raising their median estimate for the Fed funds rate, as the dot plot shows, to 1.375% at the end of 2015 from 1.125% forecasted in June.
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Dollar Higher as Fed Hinted as Steeper Rate Hike Print E-mail
Market Overview | Written by ActionForex.com | Sep 17 14 18:48 GMT
Dollar rises against other major currencies after Fed left rates unchanged near zero and continued tapering by another $10 b as widely expected. While Fed kept the language of keeping rates low for "considerable time" after asset buying ends, the overall statement, as well as the latest economic projections were slightly more hawkish. In particular, Fed noted that the "likelihood of inflation running persistently below 2 percent has diminished somewhat since early this year." Fed also published new guidelines for its exit strategy and noted that it will "depend on how economic and financial conditions and the economic outlook evolve" in phasing out the reinvestments. Overall, dollar's strength post FOMC is relatively limited, except versus the broadly weak Japanese yen.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 17 14 14:19 GMT
EUR: The single currency remained confined in narrow range, sell orders are still seen at 1.2980-85 and 1.3000, more offers are noted at 1.3025 (stops above), 1.3035 and 1.3050-60, selling interest is expected at 1.3085, 1.3100-10 and 1.3035. On the downside, bids remain at 1.2935-40, 1.2920-25 and 1.2900-10, buy orders are still seen at 1.2885-95 and 1.2850-60 (stops below), buying interest is tipped at 1.2825, 1.2800 and 1.2785, fresh demand is expected at 1.2750 and 1.2725, mixture of bids and stops is located at 1.2700.
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Mid-Day Report: Dollar Mildly Lower after Weak CPI, FOMC Awaited Print E-mail
Market Overview | Written by ActionForex.com | Sep 17 14 12:52 GMT
Dollar drops mildly in early US session after weaker than expected inflation data. But loss is so far limited as markets await FOMC policy decision. Headline CPI slowed to 1.7% yoy in August versus expectation of 1.9% Yoy. Core CPI also slowed to 1.7% yoy, versus expectation o 1.9% yoy. Later today, FOMC is expected to reduce a further USD 10b in the QE program, leaving a final USD 15b which will be removed at the October meeting. We expect to see the statement modified to signal clearly that the QE would end in October. The biggest question is whether FOMC would change the language in the accompanying statement to reflect that rate hike is nearing. To be specific, Fed noted that rates would stay near zero for a "considerable time" after QE ends. And markets are wondering if Fed would drop "considerable time" and vote pattern for such change or not. Fed will also release updated economic projections. There could be upward revision in GDP forecast and downward revision in unemployment rate.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 17 14 10:14 GMT
EUR: The single currency met selling interest just below 1.3000 level and retreated, sell orders are still seen at 1.2975-85 and 1.3000, more offers are noted at 1.3025 (stops above), 1.3035 and 1.3050-60, selling interest is expected at 1.3085, 1.3100-10 and 1.3035. On the downside, bids are raised to 1.2935-40, 1.2920-25 and 1.2900-10, buy orders are still seen at 1.2885-95 and 1.2850-60 (stops below), buying interest is tipped at 1.2825, 1.2800 and 1.2785, fresh demand is expected at 1.2750 and 1.2725, mixture of bids and stops is located at 1.2700. Option expires today include: 1.2950, 1.3000, 1.3050, 1.3120, 1.3180 and 1.3325 (large).
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Daily Report: Sentiments Lifted by China Stimulus, BoE Minutes and FOMC Next Print E-mail
Market Overview | Written by ActionForex.com | Sep 17 14 03:18 GMT
Asian markets rebounded on reports that China has broadened stimulus and the news also took Australian dollar higher. It's reported that the PBoC is injecting CNY 500b, or USD 81b into the five major state-owned banks. The intention is to boost liquidity to channel through to public housing and private businesses. The massive size of injection is seen as equivalent to 50 bps cuts in the so called reserve ration requirements for the whole banking system. Such expansion of monetary base was also seen as "printing money" and a form of quantitative easing. Economists noted that such a move was the first time in response to recent weak economic data and there could be additional steps ahead including fiscal spending.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 16 14 14:38 GMT
EUR: The single currency remained confined in narrow range, offers at 1.2960 were filled but sell orders are still seen at 1.2975-85 and 1.3000, more offers are noted at 1.3025 (stops above), 1.3035 and 1.3050-60, selling interest is expected at 1.3085, 1.3100-10 and 1.3035. On the downside, bids remain at 1.2920-25 and 1.2900-10, buy orders are still seen at 1.2885-95 and 1.2850-60 (stops below), buying interest is tipped at 1.2825, 1.2800 and 1.2785, fresh demand is expected at 1.2750 and 1.2725, mixture of bids and stops is located at 1.2700.
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Mid-Day Report: Markets Stay in Consolidation Mode in General Print E-mail
Market Overview | Written by ActionForex.com | Sep 16 14 13:09 GMT
Dollar stays in tight range against other major currencies in early US session except that some weakness is seen against Loonie. FOMC will start the two day policy meeting today and markets are eager to see if Fed will change the language in the statement to reflect that rate hike is nearing. Released from US, PPI rose to 1.8% yoy in August as expected while core CPPI rose to 1.8% Yoy versus expectation of 1.7% yoy. Canadian manufacturing shipments rose 2.5% mom in July versus expectation of 1.1% mom.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 16 14 09:07 GMT
EUR: The single currency found support just above 1.2920 and has recovered in European morning, however, offers are still noted at 1.2960, 1.2975-85 and 1.3000, more sell orders are seen at 1.3025 (stops above), 1.3035 and 1.3050-60, selling interest is expected at 1.3085, 1.3100-10 and 1.3035. On the downside, bids remain at 1.2920-25 and 1.2900-10, buy orders are still seen at 1.2885-95 and 1.2850-60 (stops below), buying interest is tipped at 1.2825, 1.2800 and 1.2785, fresh demand is expected at 1.2750 and 1.2725, mixture of bids and stops is located at 1.2700. Option expires today include: 1.2885, 1.2890, 1.2955, 1.3070, 1.3115 and 1.3125.
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Daily Report: Aussie Consolidates after RBA Minutes Print E-mail
Market Overview | Written by ActionForex.com | Sep 16 14 03:52 GMT
Aussie is trading in tight range above 0.9 against dollar after earlier dive this week. The RBA minutes for September meeting reiterated the central bank's neutral stance to keep interest rate at current level of 2.50% for a period of time. Also, it also maintained the message that exchange rate of the currency remains above its fundamental value. Meanwhile, RBA showed concern over speculations in the housing markets. It highlighted the risk that over speculation could set up for steep fall in property prices later. And the main risks would be on the "stability of the macro economy rather than the financial system" if households cut back their spending in response to declines in wealth.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 15 14 13:52 GMT
EUR: The single currency has recovered in NY morning on weaker-than-expected US data, however, offers are still noted at 1.2975-85, 1.3000, 1.3025 (stops above), more sell orders are seen at 1.3035, 1.3050-60 and 1.3085, selling interest is expected at 1.3100-10, 1.3035 and 1.3050-60. On the downside, bids at 1.2925 were filled but buy orders are still seen at 1.2900-10 and 1.2885-95, buying interest is located at 1.2850-60 (stops below) and 1.2825, fresh demand is tipped at 1.2800 (stops below), 1.2785, 1.2750 and 1.2725, , mixture of bids and stops is located at 1.2700.
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Mid-Day Report: Euro Dips as OECD Urged More ECB Actions Print E-mail
Market Overview | Written by ActionForex.com | Sep 15 14 12:42 GMT
Euro dipped against dollar and yen today as OECD warned that Eurozone is once again the biggest threat to global economy and urged aggressive actions from ECB. The Australian dollar pared back some of the earlier loss but stays generally weak. Dollar remains firm against commodity currencies in general and yen and is bounded in tight range against Sterling. In other markets, European stock indices opened lower today but quickly reversed the losses. US futures also pared back some losses and point to flat open. Commodities are mixed with gold mildly up while crude oil stays pressured.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 15 14 08:53 GMT
EUR: The single currency retreated today in European morning and bids at 1.2940 were filled, however, buy orders are still noted at 1.2925, 1.2900-10 and 1.2885-95, buying interest is seen at 1.2850-60 (stops below) and 1.2825, fresh demand is tipped at 1.2800 (stops below), 1.2785, 1.2750 and 1.2725, , mixture of bids and stops is located at 1.2700. On the upside, offers are now located at 1.2975-85, 1.3000, 1.3025 (stops above), more sell orders are seen at 1.3035, 1.3050-60 and 1.3085, selling interest is expected at 1.3100-10, 1.3035 and 1.3050-60. Option expires today include: 1.2945, 1.3000, 1.3005, 1.3050 (large) and 1.3075.
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Daily Report: Aussie Tumbles on China Worries Print E-mail
Market Overview | Written by ActionForex.com | Sep 15 14 07:04 GMT
Aussie opened the weak sharply lower and broke 0.9 level against dollar on worries of economic outlook of China. A batch of weak economic data released over the weekend highlighted the risk of steeper slowdown in the economy. Industrial production rose 6.9% yoy in August, comparing to prior month's 9.0% yoy in expectation of 8.8% yoy. That's the slowest pace since December 2008 outside out lunar new year periods. Retail sales rose 11.9% yoy in August versus expectation of 12.1% yoy. Fixed asset investment rose 16.5% yoy versus expectation of 16.9% yoy. The concerns also dragged down Asian equities with MSCI Asia Pacific outside Japan index slipped 0.8% to the lowest level since early August.
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Weekly Review and Outlook: Dollar & Yields Strong ahead of FOMC, Sterling Turning Corner as Referendum Approaches Print E-mail
Market Overview | Written by ActionForex.com | Sep 13 14 13:58 GMT
After initial weakness, European majors turned sideway against the greenback as recent selling momentum was exhausted. Focus was then turned too selling in commodity currencies and yen. After a rather volatile week, AUD/USD ended as the biggest mover, losing -335 pts, or -3.71%. EUR/AUD was indeed the second largest mover, up 514 pts, or 3.59%. The order of weakness Aussie, Kiwi, Yen and Loonie. On the other hand, Euro has indeed registered as slight weekly gain against dollar but that was rather ignorable as EUR/USD was just consolidating in tight range. Overall, the tone of dollar remained generally firm.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 12 14 14:20 GMT
JPY: Dollar kept a firm undertone but sell orders are still noted at 107.40-50 with stops building up above barrier there, more selling interest is tipped at 107.75-80 and ahead of next barrier at 108.00 with more stops placed above, offers are expected further out at 108.25 and 108.50. On the downside, bids are raised to 107.00-10, 106.80-85 and 106.65, more buy orders are sitting at 106.40-50, 106.25 and 106.00, fresh demand should emerge around 105.85-90, 105.65 and 105.50.
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Mid-Day Report: Dollar Maintain Gains after Solid Retail Sales Print E-mail
Market Overview | Written by ActionForex.com | Sep 12 14 12:46 GMT
The overall development in the forex markets is unchanged as the weekly close approaches. Dollar stays firm against commodity currencies and yen after positive economic data. Retail sales rose more than expected by 0.6% in August while ex-auto sales rose 0.3% as expected. Import price index dropped -0.9% mom in August. Other data released today saw Eurozone employment rose 0.2% qoq in Q2 while industrial production rose 1.0% mom in July. UK construction output rose 0.0% mom in July. Japan industrial production was revised up to 0.4% mom in July. New Zealand business NZ manufacturing index rose to 56.5 in August.
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