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Sep 28 17:19 GMT

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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 28 16 14:38 GMT
EUR: The single currency rebounded after finding good support at 1.1182, offers at 1.1220-25 were filled but sell orders are still noted at 1.1240 and 1.1260, selling interest is tipped at 1.1280 (sizeable) and 1.1300 (sizeable). On the downside, bids are seen at 1.1180-85, 1.1150 and 1.1130, buying interest should emerge around 1.1100, 1.1080 and 1.1050. .
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Mid-Day Report: Dollar Range Bound after Durables Orders Print E-mail
Market Overview | Written by ActionForex.com | Sep 28 16 12:53 GMT
Dollar continues to stay in tight range in early US session, lacking a direction. Headline durable goods orders was flat in August versus expectation of -1.0%. Ex-transport orders dropped -0.4% versus expectations of -0.5%. San Francisco Fed president John Williams said in an interview that "it is getting harder and harder to justify interest rates being so incredibly low given where the U.S. economy is and where it is going." And, he expressed his support for a rate hike and he believed that "the economy can handle that". A rate hike would not "stall, slow or derail the economic expansion". Regarding the split in FOMC regarding rate hike, Williams said Fed chair Janet Yellen "fully understands the arguments on both sides," and "she's just the right person to get the right balance going forward."
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 28 16 11:05 GMT
EUR: The single currency found good support at 1.1182 and has rebounded, offers at 1.1200 were filled but sell orders are still noted at 1.1220-25 and 1.1250, selling interest is tipped at 1.1280 (sizeable) and 1.1300 (sizeable). On the downside, bids are seen at 1.1180-85, 1.1150 and 1.1130, buying interest should emerge around 1.1100, 1.1080 and 1.1050. Option expires today include: 1.1085, 1.1090, 1.1100 (large), 1.1110 (large), 1.1150 (large), 1.1200 (large), 1.1205 (over 1 bln) and 1.1225 (large).
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Daily Report: Treasury Yields Dive in Mixed Markets Print E-mail
Market Overview | Written by ActionForex.com | Sep 28 16 04:30 GMT
The financial markets remain mixed for the week so far. US equities rebounded overnight on stronger than expected consumer confidence data. DJIA closed up 133.47 pts or 0.74% at 18228.30. S&P 500 closed up 13.83 pts or 0.64% at 2159.93. But sentiments reversed in Asian session with Nikkei trading down -1.54% at the time of writing. Dollar index recovered yesterday but is still gyrating in tight range around a flat 55 days EMA, at around 95.5. Aussie remains the stronger major currency but Kiwi is starting to lag behind. Meanwhile, another commodity currency, Canadian dollar, is the weakest one this week as dragged down by oil prices. Others are mixed, looking for a direction.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 27 16 14:31 GMT
EUR: The single currency slipped in NY morning, bids at 1.1220-25 and 1.1200 were filled but buy orders are still noted at 1.1185, 1.1150 and 1.1130, buying interest is tipped at 1.1100, 1.1080 and 1.1050. On the upside, offers are seen at 1.1240 and 1.1260, sell orders are reported at 1.1280 and 1.1300 (sizeable), selling should emerge around 1.1320 and 1.1350.
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Mid-Day Report: Markets Stay Mixed With Dollar Index Mildly Higher Print E-mail
Market Overview | Written by ActionForex.com | Sep 27 16 12:59 GMT
The financial markets remain mixed today. Strength was seen in Asian markets as Nikkei closed up 0.84% but European indices are generally under pressure. FTSE, DAX and CAC are all trading in red after reversing initial gains. Meanwhile, US futures point to a mixed open. Weakness in oil is weighing down on sentiments again as WTI dips below 45 to as low as 44.68 so far. Gold also dips to as low as 1332.5 and failing to sustain above 1340 handle. Dollar index, on the other hand, recovers to as high as 95.62 so far after dropping support above 95 handle. Nonetheless, Aussie and Kiwi remain the strongest major currencies while Euro is the weakest, followed by Canadian dollar.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 27 16 11:02 GMT
EUR: The single currency traded narrowly today, offers are noted at 1.1260, 1.1280 and 1.1300 (sizeable), sell orders are reported at 1.1320 and 1.1350. On the downside, bids are seen at 1.1220-25, 1.1200 and 1.1185, buy orders are expected at 1.1150 and 1.1130, buying interest is tipped at 1.1100, 1.1080 and 1.1050. Option expires today include: 1.1200 (large), 1.1285 (over 1 bln), 1.1295 (large), 1.1300, 1.1310 (large) and 1.1335 (large).
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Daily Report: Mixed Markets With Hint of Risk Appetite Print E-mail
Market Overview | Written by ActionForex.com | Sep 27 16 03:51 GMT
The financial markets are trading mixed in the early part of the week so far. US equities closed lower with DJIA losing -166.62 pts or -0.91% to close at 18094.83. S&P 500 also dropped -18.59 pts or -0.86% to close at 2146.1. Treasury yields also followed as 10 year yield lost -0.026 to close at 1.589, sharply lower than this month's higher at 1.752. Nikkei followed and opened sharply lower but quickly pared losses while other Asian markets are mixed. Gold and crude oil are both gyrating in tight range around 1340 and 45 for the moment. Nonetheless, the rebound in commodity currencies and weakness in Yen today might sign a return of risk appetite ahead.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 26 16 14:31 GMT
EUR: The single currency has risen again and offers at 1.1250-55 were filled but sell orders are still noted at 1.1250-55, 1.1280 and 1.1300 (sizeable), selling interest is tipped at 1.1320 and 1.1350. On the downside, bids are seen at 1.1220-25, 1.1200 and 1.1185, buy orders are expected at 1.1150 and 1.1130, buying interest is tipped at 1.1100, 1.1080 and 1.1050.
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Daily Report: Yen and Swissy Surge on Risk Aversion Print E-mail
Market Overview | Written by ActionForex.com | Sep 26 16 10:24 GMT
The Japanese Yen and Swiss Franc opened the week higher on risk aversion. European stocks are trading generally lower with major indices down more than -1% at the time of writing. Sentiments were dragged down by worries over solvency of Deutches Bank as German Chancellor ruled out any state assistance. IMF has also recently stated that the bank posts the biggest systematic threat to global finance. Sterling is hardest hit by weak sentiments but Euro is being supported by better than expected German confidence data. In other markets, Gold and Crude oil are trading mildly softer in tight range.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 26 16 10:19 GMT
EUR: The single currency edged higher again after finding support at 1.1193 on Friday, however, offers are still noted at 1.1250-55, 1.1280 and 1.1300 (sizeable), sell orders are reported at 1.1320 and 1.1350. On the downside, bids are seen at 1.1220, 1.1200 and 1.1185, buy orders are expected at 1.1150 and 1.1130, buying interest is tipped at 1.1100, 1.1080 and 1.1050. Option expires today include: 1.1170, 1.1250 and 1.1325.
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Weekly Review and Outlook: Sterling Stayed the Weakest after Central Bank Week Print E-mail
Market Overview | Written by ActionForex.com | Sep 24 16 15:04 GMT
Dollar weakened broadly last week after Fed stood pat and revised down interest rate projections. Nonetheless the greenback pared back some losses as markets were still expecting another rate hike in December. Also, the selloff in Dollar was overwhelmed by Sterling and Kiwi as BoE and RBNZ are expected to cut interest rate again later this year. Meanwhile, Australia dollar ended the week as the strongest major currency as stocks rebounded on global interest rate expectations. Yen also jumped after BoJ announced revision of the policy framework without additional stimulus. In other markets, US stocks rebounded strongly after FOMC but lost momentum towards the end of the week. US yields also dropped sharply post FOMC. Meanwhile, gold jumped on Dollar's weakness and ended higher while crude oil struggled to sustain gains.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 23 16 14:57 GMT
EUR: The single currency found support at 1.1193 and recovered, buy orders are reported at 1.1185-90, 1.1150 and 1.1130, buying interest is tipped at 1.1100, 1.1080 and 1.1050. On the upside, offers are seen at 1.1245-50 and 1.1280, selling interest should emerge around 1.1300 (sizeable), 1.1320 and 1.1350.
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Mid-Day Report: Canadian Dollar Lower after Economic Data Print E-mail
Market Overview | Written by ActionForex.com | Sep 23 16 12:59 GMT
Canadian dollar weakens notably in early US session after weaker than expected economic data. Canadian retail sales dropped -0.1% mom in July, below expectation of 0.2% mom. Ex-auto sales dropped -0.1% versus expectation of 0.5% mom. Headline CPI slowed to 1.1% yoy in August below expectation of 1.4% yoy. BoC CPI core slowed to 1.8% yoy, below expectation of 2.0% yoy. USD/CAD is trading back above 1.3217 might resistance and focus is turned back to near term resistance at 1.3247/3251.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 23 16 11:10 GMT
EUR: The single currency retreated after rising to 1.1257, bids at 1.1200 were filled but buy orders are reported at 1.1185, 1.1150 and 1.1130, buying interest is tipped at 1.1100, 1.1080 and 1.1050. On the upside, offers are seen at 1.1220-25, 1.1245-50 and 1.1280, selling interest should emerge around 1.1300 (sizeable), 1.1320 and 1.1350. Option expires today include: 1.1100 (2 bln), 1.1150 (near 1 bln), 1.1175 (large), 1.1200 (over 2 bln), 1.1205, 1.1225, 1.1230, 1.1250 (near 2 bln), 1.1300 and 1.1400 (large).
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Daily Report: Dollar Trying to Recover as FOMC Impact Fades Print E-mail
Market Overview | Written by ActionForex.com | Sep 23 16 07:37 GMT
The impact of FOMC meeting earlier this week seems to be fading quickly. While US equities closed higher overnight, with DJIA gained 98.76 pts or 0.54% and S&P 500 up 14.06 pts, or 0.65%. Asian markets didn't follow with Nikkei losing -0.32%. Dollar is still on course to end the week as the weakest major currency, it's trading to recover some grounds today and is trading mildly higher. Meanwhile, Aussie is leading the way higher, followed by the Japanese yen. In other markets, WTI crude oil rebounded strongly this week but lost some momentum after hitting 46.52. Meanwhile, gold is extending recent rang trading between 1300 and 1380.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 22 16 15:49 GMT
EUR: The single currency continued edging higher rallied and offers at 1.1250 were filled but sell orders are still noted at 1.1280 and 1.1300 (sizeable), selling interest is tipped at 1.1320 and 1.1350. On the downside, bids are seen at 1.1220, 1.1200 and 1.1180, buy orders are expected at 1.150, 1.1130 and 1.1100, buying interest is tipped at 1.1080 and 1.1050.
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Mid-Day Report: Dollar Extends Post FOMC Selloff Print E-mail
Market Overview | Written by ActionForex.com | Sep 22 16 13:42 GMT
Dollar remains broadly pressured as post FOMC selloff continues despite positive economic data. Meanwhile, US equities followed global stocks higher and reversed recent bearishness. US initial jobless claims dropped -8k to 252k in the week ended September 17, hitting the lowest level since mid-July, and beat expectation of 261k. Also, the series stayed below 300k market for the 81 straight week, longest since 1970. The four week moving average dropped 2.25k to 258.50k. Continuing claims dropped 36k to 2.1m in the week ended September 10. House price index rose 0.5% mom in July, above expectation of 0.3%. Released earlier today, UK CBI trends total orders was unchanged at -5 in September.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 22 16 11:12 GMT
EUR: The single currency rallied on dollar's broad-based weakness after FOMC, however, offers are still noted at 1.1250, 1.1280 and 1.1300 (sizeable), sell orders are reported at 1.1320 and 1.1350. On the downside, bids are now seen at 1.1220, 1.1200 and 1.1180, buy orders are expected at 1.150, 1.1130 and 1.1100, buying interest is tipped at 1.1080 and 1.1050. Option expires today include: 1.1000 (near 1.5 bln), 1.1050, 1.1060, 1.1100 (1.5 bln), 1.1150 (near 1 bln), 1.1200 (large) and 1.1300 (large).
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Daily Report: Dollar Lower and Fed Projected Slower Rate Path Print E-mail
Market Overview | Written by ActionForex.com | Sep 22 16 02:55 GMT
Dollar weakened overnight while stocks rebounded after Fed kept interest rate unchanged as widely expected. The target rate was held between 0.25% and 0.50% but Kansas City Fed President Esther George, Cleveland Fed President Loretta Mester and Boston Fed President Eric Rosengren dissented, preferring a hike. Fed chair Janet Yellen noted in the post meeting press conference that "the case for an increase had strengthened" but the committee "decided for the time being to wait for continued progress toward our objectives." Also, Yellen said that "most participants do expect that one increase in the federal funds rate will be appropriate this year." And, "if we continue on the current course of labor-market improvement and there are no major new risks that develop, and we simply stay on the current course." Markets took the messages as affirmation of a December rate hike and fed fund futures are pricing in 60% chance.
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