ActionForex.com
Nov 01 04:35 GMT

Sponsors

Forex Expos

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 | Oct 31 14 14:01 GMT
EUR: The single currency fell again to fresh 2-year low in NY morning on dollar's broad-based strength, bids from 1.2540 down to 1.2500 together with stops below 1.2495-00 were tripped, however, fresh demand should emerge further out at 1.2470 and 1.2450. On the upside, offers are lowered to 1.2540, 1.2590-00 and 1.2630 with stops placed above 1.2640, sell orders in good size are tipped at 1.2670-80 and 1.2700-10.
Read more...
 
Mid-Day Report: Yen Sharply Lower as BoJ Shocked Markets Print E-mail
Market Overview | Written by ActionForex.com | Oct 31 14 12:47 GMT
The Japanese yen tumbles sharply today as BoJ surprised the markets by announcing additional easing. The target for monetary base expansion was rated from JPY 60-70T to JPY 80T. The decision was not unanimously and was voted by 5-4. The central bank will buy at an annual pace of JPY 80T in JGBs, comparing to prior JPY 50T, at average maturity of seven to ten years comparing to prior average of seven years. In addition, BoJ will buy an annual pace of JPY 3T in ETFs and JPY 90b in J-REITS, comparing to prior JPY 1T and JPY 30b. BoJ Governor Haruhiko Kuroda said it's now a "critical moment for Japan to emerge from deflation" and thus the decision to expand the QQE. He noted today's announce was a "pretty drastic step" and would have a "significant effect" on the economy. Yen responded negatively to the announcement and dived to six year low against dollar. Nikkei jumped sharply by 755.56 points, or 4.83% to close at 16413.76. European equities were lifted by the BoJ actions too. Meanwhile, US stock futures point to sharply high open and DJIA might take a test on record high of 17350.64 today.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 31 14 09:26 GMT
JPY: Dollar rallied to fresh 7-year high as BOJ expanded its stimulus package, offers at 109.50, 109.75-85, 110.00-10 were filled, bids are raised to 111.00, 110.50 and 110.20-25, more buy orders are tipped at 110.00, 109.70-75 and 109.40-50, fresh demand should emerge around 109.20 and 109.00 with stops building up below 108.80. On the upside, some sell orders are tipped at 111.80 and 112.00, some selling interest (for profit-taking purposes) should emerge around 112.40-50. Option expires today include: 108.50, 109.50, 110.50 and 112.00.
Read more...
 
Daily Report: Equities Boosted by US GDP, Dollar Firm Print E-mail
Market Overview | Written by ActionForex.com | Oct 31 14 02:55 GMT
US equities jumped sharply overnight as boosted by the stronger than expected GDP report, which showed 3.5% annualized growth comparing to consensus of 2.9%. DJIA rose further 221.11 pts, or 1.3% to close at 17951.42, comparing to record high of 17350.64 made in September. S&P 500 rose 12.35 pts, or 0.62% to close at 1994.65 comparing to record high of 2019.26, also made in September. Asian stocks followed with Nikkei up 1.75% at the timing of writing and is marching back to 16000 handle. Hong Kong HSI is also up over 0.7%. Dollar index rebounded to ahead high as 86.49 yesterday, just shy of recent resistance of 86.74, before retreating mildly. In the currency markets, dollar stays firm against other major currencies and is still on course to retest recent highs, including 1.2500 in EUR/USD, 1.5876 in GBP/USD, 0.9688 in USD/CHF and 110.08 in USD/JPY.
Read more...
 
US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 30 14 14:32 GMT
EUR: The single currency bounced off low of 1.2547 in NY morning in part due to the release of US GDP data, offers at 1.2600-20 were filled but sell orders in good size are still noted at 1.2640-50, more selling interest is tipped at 1.2670-80 and 1.2700-10. On the downside, some bids are seen at 1.2570-80 and in good size at 1.2540-50 as well as 1.2520-25, mixture of bids and stops is located at 1.2490-00 but fresh demand should emerge further out at 1.2470 and 1.2450.
Read more...
 
Mid-Day Report: Dollar Maintains Gain as GDP Beat Expectations Print E-mail
Market Overview | Written by ActionForex.com | Oct 30 14 12:49 GMT
Dollar maintains the post FOMC gain and stays firm in early US session after better than expected growth data. Q3 GDP growth slowed to 3.5% annualized, above expectation of 2.9%. It should be noted that the 4.6% growth back in Q2 was mainly due to rebound from adverse weather back in Q1. Hence, while Q3's growth slowed, it's indeed a rather solid figure. And, combining Q2 and Q3's number, the total was the strongest six month period since 2003. GDP price index, nonetheless, slowed more than expected to 1.3%. Initial jobless claims rose 3k to 287k in October 25 versus expectation of 277k. The four-week moving average dropped to 281k, the lowest level since May 2000. Continuing claims rose 29k to 2.38m in the week ended October 18.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 30 14 09:46 GMT
EUR: The single currency tumbled yesterday on dollar's broad-based rally after Fed's Monetary Policy Statement, bids at 1.2720-25, 1.2700-05, 1.2685-90, 1.2655-65, 1.2600-10, 1.2585 and 1.2565 were all filled. At the moment, offers are now seen at 1.2600-10 and in good size at 1.2640-50, more sell orders are tipped at 1.2670-80 and 1.2700-10. On the downside, some bids are noted at 1.2540-50 and 1.2520-25, mixture of bids and stops is located at 1.2490-00 but fresh demand should emerge further out at 1.2470 and 1.2450. Option expires today include: 1.2700 (over 2 bln) and 1.2800 (over 1 bln).
Read more...
 
Daily Report: Dollar Rebounded on Hawkish Fed, RBNZ Turned Neutral Print E-mail
Market Overview | Written by ActionForex.com | Oct 30 14 03:44 GMT
Dollar rebounded strongly overnight as Fed struck a more hawkish than expected tone in the FOMC statement. Fed announced to end the so called QE3 as widely expected and left rates unchanged near zero. The third round of quantitative easing began back in September 2012 and will total around USD 1.,6T in security purchases, including USD 818b in MBS and USD 785b in treasuries. It's expected that Fed's balance sheet would finally peak just shy of USD 4.5T, slightly higher than 25% of nominal GDP. Before the statement, markets were pricing the first hike in around October 2015. However, the statement argued that the first hike could happen closer than Fed's own expectation, that is around June 2015. Thus, markets pull ahead the expectations and gave dollar a boost.
Read more...
 
Dollar Rebounds as FOMC Upgraded Job Market Assessment, Maintained Inflation Outlook Print E-mail
Market Overview | Written by ActionForex.com | Oct 29 14 18:32 GMT
Dollar jumps after Fed ended the open ended asset purchase program finally, and maintained interest rate near zero. While FOMC maintained the language of keep rates at current low level for a "considerable time", there are two points in the statement that gave the greenback a lift. Firstly, Fed upgraded its assessment on the job market as it noted that "labor market conditions improved somewhat further, with solid job gains and a lower unemployment rate". More importantly, "a range of labor market indicators suggests that underutilization of labor resources is gradually diminishing." Secondly, even though inflation will likely be held down in near term, FOMC maintained that " likelihood of inflation running persistently below 2 percent has diminished somewhat since early this year."
Read more...
 
US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 29 14 14:26 GMT
EUR: The single currency remained confined in narrow range on back of huge option expires around 1.2700-25 area (over 3 bln), some offers are still noted at 1.2750, 1.2770 and 1.2785-90, mixture of offers and stops remains at 1.2800, sizeable sell orders are expected further out at 1.2820-25 and 1.2840-50. On the downside, bids remain at 1.2720-25, 1.2700-05 and 1.2685-90 (stops below), buy orders are expected at 1.2655-65 (more stops below 1.2650), 1.2620-35 area and 1.2600-10, more buying interest is tipped at 1.2585, 1.2565 and 1.2550.
Read more...
 
Mid-Day Report: Dollar Soft ahead of FOMC Print E-mail
Market Overview | Written by ActionForex.com | Oct 29 14 13:46 GMT
Dollar stays soft in general as markets await FOMC rate decision today. In particular, the greenback is weak against commodity currencies, which are being lifted by rally in the risk markets. DJIA is holding firm above 17000 level and registers some gain in early trading. Crude oil is holding above 82 level, extending the recovery from this week's low of 79.44. Economic data released today triggered little reactions. Canada IPPI dropped -0.3% mom in September while RMPI dropped -1.8% mom. UK mortgage approvals dropped to 61k in September while M4 dropped -0.7% mom. Japan industrial production rose 2.7% mom in September.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 29 14 08:47 GMT
EUR: The single currency traded narrowly after yesterday's rise to 1.2765 in part due to huge option expires around 1.2700-25 area (over 3 bln), some offers are noted at 1.2750, 1.2770 and 1.2785-90, mixture of offers and stops remains at 1.2800, sizeable sell orders are expected further out at 1.2820-25 and 1.2840-50. On the downside, bids remain at 1.2720-25, 1.2700-05 and 1.2685-90 (stops below), buy orders are expected at 1.2655-65 (more stops below 1.2650), 1.2620-35 area and 1.2600-10, more buying interest is tipped at 1.2585, 1.2565 and 1.2550. Option expires today include: 1.2645 (over 1 bln), 1.2680, 1.2700 (1 bln), 1.2710 (1 bln), 1.2720 (large), 1.2725 (1 bln) and 1.2750.
Read more...
 
Daily Report: Stocks Surged ahead of FOMC Meeting, Yen Soft Print E-mail
Market Overview | Written by ActionForex.com | Oct 29 14 02:46 GMT
US equities extended recent strong rebound and ended sharply high overnight. Sentiments were lifted by strong consumer confidence data as well as expectation that FOMC would stay on the dovish side after ending QE. DJIA rose 187.81 pts, or 1.12% to close at 17005.75, reclaiming 17000 level. S&P 500 also rose 23.42 pts, or 1.19% to close at 1985.05. Both are relatively close to record highs of 17350.64 and 2019.26 respectively. In the currency markets, Yen remains the weakest currency this week as weighed down by risk appetite. Meanwhile, commodity currencies record broad based gain with Kiwi and Aussie being the stronger ones.
Read more...
 
US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 28 14 14:55 GMT
EUR: The single currency jumped in part due to the release of soft US durable goods order report, offers at 1.2725-30 and 1.2750 were tripped, however, more selling interest is expected at 1.2770 and 1.2785-90, mixture of offers and stops remains at 1.2800. On the downside, bids are raised to 1.2720, 1.2685-90 and 1.2655-65 and 1.2625-30, more buying interest is tipped at 1.2600-10, 1.2565 and 1.2550.
Read more...
 
Mid-Day Report: Dollar Lower as Durable Goods Disappointed Print E-mail
Market Overview | Written by ActionForex.com | Oct 28 14 13:01 GMT
Dollar weakens in early US session as data disappointed again. Headline durable goods orders dropped for the second month in September, by -1.3% versus expectation of 0.3% growth, with prior month's figure revised down from -18.2% to -18.4%. Ex-transport orders also dropped -0.2% versus expectation of 0.5% growth, with prior month's figure revised down from 0.7% to 0.4%. Technically, it looks like dollar index's recovery from 84.47 has finished at 85.93 and it could now spiral back towards 55 days EMA (now at 84.34). The bigger test is tomorrow's FOMC rate decision and focus is on whether Fed would hint on the timing of the highly anticipated first rate hike. But in any case, we'd most likely see more consolidation below 86.74 high in near term.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 28 14 11:31 GMT
EUR: The single currency maintained a firm bias but sell orders are still seen at 1.2725-30 (stops above) and 1.2750, more selling interest is expected at 1.2770 and 1.2785-90, mixture of offers and stops is located at 1.2800. On the downside, bids are raised to 1.2690-95, 1.2655-65 and 1.2625-30, more buying interest is tipped at 1.2600-10, 1.2565 and 1.2550. Option expires today include: 1.2600, 1.2650 (large) and 1.2700
Read more...
 
Daily Report: Markets Steady as Consolidation Continued Print E-mail
Market Overview | Written by ActionForex.com | Oct 28 14 03:09 GMT
The forex markets are generally steady as recent consolidations continued. ECB said that EUR 1.7b of covered bonds were bought last week as the new security purchase program began. Some analysts argued that it's just like a drop in the ocean comparing to the EUR 2T balance sheet. ECB vice president Vitor Constancio said earlier this month that there were around EUR 600b of covered bonds and EUR 400b of ABS eligible for EB purchase. Based on last week's size, there is no way the total size could get near to the EUR 600b mark. EUR/USD is struggling around 1.27 level for the moment and maintain the near term bearish outlook.
Read more...
 
US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 27 14 14:45 GMT
EUR: The single currency rebounded again in US morning but sell orders are still seen at 1.2725-30 and 1.2750, more selling interest is expected at 1.2770 and 1.2785-90, mixture of offers and stops is located at 1.2800. On the downside, bids at 1.2670-75 were filled but buy orders are still noted at 1.2665, 1.2640-50 and 1.2625-30, more buying interest is tipped at 1.2600-10, 1.2565 and 1.2550.
Read more...
 
Mid-Day Report: Euro Pared Gains as Weighed Down by German Ifo Print E-mail
Market Overview | Written by ActionForex.com | Oct 27 14 13:15 GMT
Euro is back under mild pressure after weaker than expected confidence data. The German Ifo business climate dropped for the sixth consecutive month to 103.2 versus expectation of 104.8. That's the lowest level since December 2012. The current assessment gauge dropped to 108.4 and the expectations gauge dropped to 98.3. Both missed expectations too. Ifo President Hans-Werner Sinn noted in the statement that "the outlook for the German economy deteriorated once again.” Ifo economist Kaus Wohlrabe said there are "almost no bright spots in the Germany industry", and the best for Q4 was stagnation. Separately, the German DIHK Chambers of Commerce lowered 2014 growth forecast from 2% to 1.3% and it expected further slowdown to 0.8% in 2015. The group noted that "confidence at companies has received a significant damper." And, businesses are "more skeptical" on "domestic demand" as it "now tops the list of business risks.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 27 14 09:12 GMT
EUR: The single currency edged higher again earlier today and offers at 1.2700 were filled, however, sell orders are still seen at 1.2725-30 and 1.2750, more selling interest is expected at 1.2770 and 1.2785-90, mixture of offers and stops is located at 1.2800. On the downside, bids are raised to 1.2670-75, 1.2640-50 and 1.2625-30, more buy orders are tipped at 1.2600-10, 1.2565 and 1.2550. Option expires today include: 1.2600, 1.2650 (1 bln), 1.2680 (over 1 bln), 1.2690 (over 1 bln), 1.2700 (over 1 bln), 1.2720 (almost 2 bln), 1.2730 (large), 1.2745 and 1.2750.
Read more...
 
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>

Page 1 of 101
Facebook MySpace Twitter Digg Delicious Google Bookmarks 

Forex Brokers

Action Insight Newsletter
ActionForex.com © 2014 All rights reserved.