ActionForex.com
Dec 22 14:48 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.



Daily Report: Markets Started Quietly in Holiday Mood Print E-mail
Market Overview | Written by ActionForex.com | Dec 22 14 06:08 GMT
Markets are relatively quiet as a holiday shortened week starts. Asian equities are general higher but Nikkei fluctuates between gain and loss. WTI crude oil also recovers but is held below last week's high of 58.98 so far. Gold still lacks the follow through buying to sustain above 1200 handle. In the currency markets, dollar is generally lower today, except versus yen, as it digests some of last week's gains. Aussie is see broadly higher, in particular with EUR/AUD trying to extend the pull back from last week's top.
Read more...
 
Weekly Review and Outlook: Dollar Resumed Up Trend, With a Little Help from SNB Print E-mail
Market Overview | Written by ActionForex.com | Dec 21 14 04:19 GMT
The greenback ended up as the strongest major currency last week after much volatility in the markets. Stocks' strong rebound after FOMC statement suggested that markets took the message that Fed will be patient about hiking interest rate, and thus, shouldn't provide much support to the dollar. Indeed, dollar lost some momentum after initial rally against commodity currencies and was still stuck in range against Sterling. SNB's surprised introduction of negative rates was the biggest news in the currency markets last week. While dollar looked topped before that, SNB's move pushed USD/CHF to new two year high and dragged EUR/USD through recent low of 1.2246. The dollar index, thus, took out 89.55 high to resume recent up trend. Thin trading is expected in the two holiday weeks ahead and we might see the dollar extend the current rise to have a strong yearly close.
Read more...
 
Mid-Day Report: CAD Mildly Lower after Weak Inflation Data Print E-mail
Market Overview | Written by ActionForex.com | Dec 19 14 13:50 GMT
Canadian dollar weakens mildly in early US session after weaker than expected inflation data. Headline CPI dropped -0.4% mom in November and dragged annual rate to 2.0% yoy. That was much weaker than expectation of -0.2% mom, 2.3% yoy. Core CPI also dropped -0.2% mom and slowed to 2.1% yoy versus expectation of 0.1% mom and 2.4% yoy. Retail sales was flat versus expectation of -0.4% mom fall in October. Ex-auto sales rose 0.2% as expected. USD/CAD's rally halted after hitting 1.1672 earlier this weak as crude oil made a temporary bottom at 53.6. Today's recovery in USD/CAD is held below this resistance so far and thus, intraday bias remains neutral and more sideway trading could still be seen.
Read more...
 
Daily Report: Risk Appetite Returned and Dollar Firm Print E-mail
Market Overview | Written by ActionForex.com | Dec 19 14 06:55 GMT
US equities staged another day of strong rally overnight and the positive sentiments carried on in Asian session. DJIA jumped 421.28 pts, or 2.43% to close at 17578.15, and is having the 17991.18 record high back in sight. That's also the biggest daily gain since December 2011. Meanwhile, S&P 500 48.34 pts, or 2.4%, to close at 2061.23. The consecutive two days of total 4.5% marked the best two days run since November 2011. Analysts attributed the strong risk appetite to the dovish FOMC statement which indicated that Fed is patient on raising interest rates. In other markets, Crude oil is taking a breath above 54 level as recent sharp decline paused. Gold continues to struggle around 1200 handle. The dollar index trading around 89.26 for the moment and is heading back for a test on 89.55 high. EUR/CHF is gyrating around 1.2040 after yesterday's surprised move by SNB.
Read more...
 
Mid-Day Report: Swiss Franc Spikes Lower as SNB Introduces Negative Rates Print E-mail
Market Overview | Written by ActionForex.com | Dec 18 14 13:36 GMT
Swiss Franc tumbles sharply today as the Swiss National Bank surprised the market by introducing negative interest rates for the first time since 1970s, effective January 22 next year. The decision came after months of pressure on EUR/CHF as it's pressing SNB's 1.2 floor after ECB stepped up the stimulus. The three month libor target range was widened to 100bps band from 0.25% to -0.75% and will push the three month libor rate into negative territory. SNB will charge banks 0.25% to deposit overnight funds with it. SNB president Thomas Jordan said today that "the minimum exchange rate remains key to ensuring appropriate monetary conditions in Switzerland." And, "the introduction of negative interest will support the enforcement of the minimum exchange rate."
Read more...
 
Daily Report: Equities Rebounded on FOMC, Dollar Higher Print E-mail
Market Overview | Written by ActionForex.com | Dec 18 14 02:55 GMT
US equities were lifted overnight as Fed sounded optimistic on the economy yet maintained the pledge to be patient on raising interest rates. DJIA rebounded and gained 288 pts, or 1.69%, to close at 17356.87. S&P 500 rose 40.15 pts, or 2.04% to close at 2012.89. Asian markets followed with Nikkei trading up over 400 pts, or 2.3% at the time of writing and regained 17000 handle. Easing risk aversion provided retreat in the Japanese yen and most yen crosses are generally higher. Dollar rebounded against European majors. In particular, EUR/USD was held below near term resistance of 1.2599 and maintained near term bearishness. Meanwhile, GBP/USD also stayed bearish with 1.5825 resistance intact and is back pressing 1.5540 low. The greenback might pick up some upside momentum again for the rest of the week.
Read more...
 
Mid-Day Report: Dollar Recovered ahead of FOMC Print E-mail
Market Overview | Written by ActionForex.com | Dec 17 14 13:59 GMT
Dollar recovered today as markets await FOMC statement later in the US session. Inflation data from US were weak but triggered little reactions in the greenback. Headline CPI dropped -0.3% mom in November, the largest monthly drop since December 2008. Annually, CPI slowed from 1.7% yoy to 1.3% yoy, lower than expectation of 1.5% yoy. Core CPI rose 0.1% mom and slowed to 1.7% yoy versus expectation of 0.2% mom, 1.8% yoy. Also released in US session, US current account deficit widened to USD -100.3b in Q3. Canada wholesale sales rose 0.1% mom in October versus expectation of 0.9% mom.
Read more...
 
Daily Report: Risk Aversion Dominated Markets, Dollar Soft ahead of FOMC Print E-mail
Market Overview | Written by ActionForex.com | Dec 17 14 02:35 GMT
Markets continue to stay in risk averse mode on the plunge in oil price and financial turmoil in Russia. WTI crude oil's steep decline continued and reached as low as 53.6 yesterday before recovering mildly. It's lost 50% since starting the fall back in June at around 107 level. . After by the development in oil price, Russian Rubble plummeted as mush as 19% yesterday and suffered the biggest one day drop in sixteen years. Even the surprised rate hike from Russia's central bank earlier couldn't stem the decline. DJIA extended recent fall and lost -111.97 pts, or -0.65% to close at 17068.87. S&P 500 dropped -16.89 pts or -0.85% to close at 1972.74. Flight to quality boost US treasuries with 30 year yield dropped to 2.7%, hitting the lowest level in two years.
Read more...
 
US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Dec 16 14 14:07 GMT
EUR: The single currency surged again today on dollar's broad-based weakness, offers at 1.24750-1.2505, 1.2530-35 and 1.2550 were filled but sell orders are still noted from 1.2570-75 and 1.2595-00 with stops building up above figure, more selling interest is expected further out at 1.2630 and 1.2650-60. On the downside, bids are raised to 1.2500, 1.2480 and 1.2460-65, buy orders remain at 1.2435-40, 1.2415 and in good size at 1.2390-00, more buying interest is expected at 1.2370 with stops building up below 1.2360-65.
Read more...
 
Mid-Day Report: Yen Extended Rebound With Plunging Oil, Dollar Lower Against Europeans Print E-mail
Market Overview | Written by ActionForex.com | Dec 16 14 13:47 GMT
Yen's rebound against other major currencies continued today as accompanied by the extended decline in crude oil, which hit as low as 53.72 so far. European stock indices stabilized as supported by positive economic data from Eurozone while US futures point to slightly lower open. In the currency markets, dollar is seen steeply lower against European majors and yen today. The dollar index is now at around 87.85 level, and is heading back to 87.53 key near term support. Released from US, housing start rose to 1.03m annualized rate in November versus expectation of 1.04m. Building permits dropped to 1.04m versus expectation of 1.06m. Canada international securities transactions rose to CAD 9.53b in October while manufacturing shipments dropped -0.6% mom.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Dec 16 14 09:23 GMT
EUR: The single currency edged higher after finding support at 1.2435, offers at 1.2450 were filled but sell orders are still noted from 1.2475 up to 1.2505 with stops building up above 1.2505-10, more selling interest is expected further out at 1.2530-35 and 1.2550. On the downside, bids remain at 1.2435-40, 1.2415 and in good size at 1.2390-00, more buy orders are expected at 1.2370 with stops building up below 1.2360-65, more stops are placed below 1.2340. Option expires today include: 1.2300 (large), 1.2500 (over 1 bln) and 1.2550 (large).
Read more...
 
Daily Report: Yen Higher as Stocks Dragged Down by Crude Oil Print E-mail
Market Overview | Written by ActionForex.com | Dec 16 14 04:08 GMT
The plunge in crude oil dragged down global stocks and risk aversion lifted yen higher. WTI crude oil extended recent down trend and barely held on to 55 level. DJIA reversed initial gain and ended the day -100 pts lower, or -0.58%, to close at 17180.84. S&P 500 also lost -12.7pts or -0.63% to close at 1989.63. Asian equities followed with Nikkei trading down -320 pts, or -1.9% at the timing of writing. Yen extended recent rebound on risk aversion with EUR/JPY and GBP/JPY breaking last week's low. USD/JPY is also weak and is pressing last week's low of 117.43. Dollar extended recent rise against commodity currencies but remains in range against European majors.
Read more...
 
Mid-Day Report: Dollar Firm against Commodity Currencies, Range bound Against Euro Print E-mail
Market Overview | Written by ActionForex.com | Dec 15 14 14:28 GMT
The greenback remains firm against commodity currencies today but stays in tight range against Euro and swiss franc. Economic data from US were mixed but that provided little inspiration to the forex markets. The Empire state manufacturing index dropped sharply from 10.16 to -3.6 in December, much worse than expectation of 12.0. Industrial production, on the other hand, rose 1.3% in November versus consensus of 0.6%. Capacity utilization also rose to 80.1%. Released from Europe, Swiss PPI dropped -0.7% mom, -1.6% in November. UK CBI trends total orders rose to 5 in December, Rightmove house price dropped -0.6% mom in December.
Read more...
 
US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Dec 15 14 14:07 GMT
EUR: The single currency traded lower on back of the selloff in cable, bids at 1.2425-30 were filled but buy orders are still seen at 1.2390-00 and in good size remain at 1.2370 with stops building up below 1.2360-65, more stops are placed below 1.2340. On the upside, offers are lowered to 1.2450 and in good size from 1.2475 up to 1.2505 with stops building up above 1.2505-10, more selling interest is expected further out at 1.2530-35 and 1.2550.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Dec 15 14 09:29 GMT
EUR: The single currency retreated after meeting resistance around 1.2485 and offers are still noted at from 1.2475 up to 1.2505 with stops building up above 1.2505-10, more selling interest is expected further out at 1.2530-35 and 1.2550. On the downside, bids are now seen at 1.2425-30 and 1.2390-00, buy orders in good size remain at 1.2370 with stops building up below 1.2360-65, more stops are placed below 1.2340. Option expires today include: 1.2200 (over 1 bln), 1.2400 (1.5 bln), 1.2450 (large) and 1.2500 (3 bln).
Read more...
 
Daily Report: Yen Range Bound after Abe's Election Victory Print E-mail
Market Overview | Written by ActionForex.com | Dec 15 14 04:26 GMT
Yen stays is tight range as the week starts after prime minister Shinzo Abe's victory in the snap election held over the weekend. Abe's coalition captured at least 325 seats, more than two-third of the 475 in the Diet's lower house. The results provided him with renewed mandate and four more years to implement his three arrows of Abenomics. Also, he is expected to delay the second planned sales tax hike by 18 months as Japan unexpectedly slipped back into recession after the first hike back in April this year. Technically, yen turned into consolidation after selling momentum was exhausted by recent steep decline. But we'd expect yen to resume the down trend later as the delay in second tax hike could deteriorate the fiscal outlook of Japan. Also, it's looking rather difficult for BoJ to maintain current stimulus and meet the 2% inflation target on schedule.
Read more...
 
Weekly Review and Outlook: Dollar Topped, Yen Bottomed as Sentiments Turned Print E-mail
Market Overview | Written by ActionForex.com | Dec 13 14 12:53 GMT
Sentiments seemed to have turned rather bad in the financial markets last week. DJIA suffered the biggest weekly drop in three years as dragged down by the steep fall in crude oil and worry over China's economy. DJIA ended down -678pts, or -3.8% to close at 17280.83. S&P 500 also tumbled -73pts, or -3.5% to close at 2002.33. WTI crude oil closed below 60 level for the first time since 2009, at 57.49, and it was above 100 level back in July. Treasury yields also suffered steep decline with 30 year yield closing at 2.7566, comparing with prior week's close of 2.964. In the currency markets, Aussie and Loonie were hardest hit while the Japanese yen recovered on risk aversion, ahead of Japan's snap election this weekend. Overall volatility could continue to increase when markets get thinner as holiday approaches.
Read more...
 
US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Dec 12 14 15:24 GMT
EUR: The single currency staged a strong rebound since European morning, offers at 1.2440-45 and 1.2465-70 together with stops above there were tripped, however, more sellers are awaiting at 1.2495-00 (stops above) and also 1.2520-30 (more stops above), selling interest is expected further out at 1.2550, 1.2575-80 and 1.2600. On the downside, bids are raised to 1.2440, 1.2420-25 and in good size at 1.2380-85, combination of bids and stops remains at 1.2360-65, more stops are placed below 1.2340.
Read more...
 
European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Dec 12 14 09:22 GMT
EUR: The single currency recovered in European morning, offers at 1.2415-20 were filled but sell orders are still noted at 1.2440-45 and in good size at 1.2465-70 (stops above), more sellers are awaiting at 1.2495-00 (stops above) and also 1.2520-30 (more stops above), selling interest is expected further out at 1.2550, 1.2575-80 and 1.2600. On the downside, bids are now seen at 1.2380-85, combination of bids and stops remains at 1.2360-65, more stops are placed below 1.2340. Option expires today include: 1.2300 (over 1 bln), 1.2325, 1.2330, 1.2350, 1.2360, 1.2400 (1 bln) and 1.2500 (large).
Read more...
 
Daily Report: Loonie Tumbles as Crude Oil Broke 60 Print E-mail
Market Overview | Written by ActionForex.com | Dec 12 14 04:05 GMT
Canadian dollar's selloff accelerated overnight as WTI crude oil plummeted through 60 handle for the first time in five years. The loonie could end the week as the weakest currency. The selloff in oil extended after Saudi Oil Minister Ali al-Naimi questioned the need to cut production to half the slide in oil price. Earlier in the week, OPEC in its monthly report unveiled that the cartel has turned more pessimistic over the global oil demand outlook. The report suggested that the fall in demand next year is mainly driven by a weaker outlook for Europe and Asia.
Read more...
 
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>

Page 1 of 108
Facebook MySpace Twitter Digg Delicious Google Bookmarks 

Forex Brokers

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