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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: Dollar Bullish Runs Continues as ISM Manufacturing Surges to 3 Year High Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 14 14:18 GMT
Dollar extends recent rally against yen and other major currencies in early US session after better than expected manufacturing data. The ISM manufacturing index jumped to 59.0 in August, comparing to expectation of a fall to 56.8. That;s the highest reading in three years since March 2011. The employment component was also strong, dipping slightly to 58.1, just shy of last month's three year high of 58.2. Also released from US, construction spending rose 1.8% mom in July versus expectation of 0.9% mom. The greenback is set to continue recent bullish momentum.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 14 14:11 GMT
JPY: Dollar surged to 8-month high above psychological level at 105.00 on broad-based demand on the greenback, barrier and stops at 105.00 were tripped, more sell orders are expected from 105.25 up to 105.50 (more stops above), selling interest is tipped at 105.85 and 106.00. On the downside, bids are raised to 104.70-75, 104.50 and 104.20-25, more buy orders are reported at 104.00, 103.75-85 and 103.60-65, mixture of bids and stops is tipped at 103.50.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 14 10:51 GMT
EUR: The single currency remained under pressure on dollar's broad-based strength, however, cross-related buying interest is still seen at 1.3100-10 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers remain at 1.3150-60 and 1.3185-90, sell orders remain at 1.3200 and from 1.3220 up to 1.3250 (stops above), more selling interest is tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there. Option expires today include: 1.3100 (large), 1.3125 and 1.3200 (over 1 bln).
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Daily Report: Aussie Soft after RBA on Hold, Dollar Rally Extends Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 14 05:11 GMT
Aussie weakened in Asia session today following broad based rally in the greenback. And Aussie stays weak after RBA left rates unchanged at 2.50% as widely expected. The central bank maintained the neutral stance that "the most prudent course is likely to be a period of stability in interest rates." In the accompanying statement, RBA maintained the forecast that growth will be "a little below trend" over the year ahead. But it also noted improving business conditions and recovery in household sentiment. It also noted that the labor market has "a degree of spare capacity" and it will take some time for unemployment to decline consistently. And, it maintained that inflation would be consistent with target even in case of depreciation in exchange rates. Overall, the statement offered nothing new to the markets. Also released from Australia, current account deficit widened to AUD -13..7b in Q2, building approvals rose 2.5% mom in July.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 01 14 14:21 GMT
EUR: The single currency recovered from intra-day low of 1.3119, buying interest is still seen at 1.3100-10 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers remain at 1.3150-60 and 1.3185-90, sell orders remain at 1.3200 and from 1.3220 up to 1.3250 (stops above), more selling interest is tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 01 14 10:35 GMT
EUR: The single currency dropped again on Friday and barrier at 1.3150 together with bids at 1.3135 and 1.3120 were tripped, however, buying interest is still seen at 1.3100-10 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers are lowered to 1.3150-60 and 1.3185-90, sell orders remain at 1.3200 and from 1.3220 up to 1.3250 (stops above), more selling interest is tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there. Option expires today include: 1.3135, 1.3185, 1.3195, 1.3290 and 1.3300.
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Daily Report: Sterling Pares Initial Gains as PMI Disappoints Print E-mail
Market Overview | Written by ActionForex.com | Sep 01 14 08:42 GMT
Sterling opened the week higher against other major currencies but pared back some gains after disappointing manufacturing data. The PMI manufacturing dropped to 52.5 in August comparing to expectation of 55.1. Mortgage approvals dropped to 67k in July versus expectation of 66k. M4 money supply rose 0.3% mom in July versus expectation of 0.5% mom. Also released today, Eurozone PMI manufacturing was finalized at 50.7 in August. German GDP was finalized at -0.2% qoq in Q2. Swiss SVME PMI dropped to 52.9 in August. China official PMI manufacturing dropped to 51.1 in August versus expectation of 51.3. HSBC manufacturing PMI was revised lower to 50.2. Japan capital spending rose 3.0% in Q2. New Zealand terms of trade rose 0.3% qoq in Q2.
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Weekly Review and Outlook: Euro Broadly Lower as Focus Turns to ECB Print E-mail
Market Overview | Written by ActionForex.com | Aug 30 14 13:57 GMT
Euro turned into consolidation after initial dip against the greenback last week. But finally, the common currency seemed to have given up on Friday and extended recent decline, closing near the weekly low at 1.3130 against dollar. Indeed, weakness of the euro was rather broad based. In particular, EUR/AUD and EUR/CAD were the two weakest pairs as Aussie and Canadian were both lifted by strength in the stock markets. That was in sharp contrast to Sterling, which remained relatively resilient in crosses even though there was practically no momentum for GBP/USD to stage a meaningful recovery during the week. Dollar and yen were mixed.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 29 14 14:09 GMT
EUR: The single currency traded narrowly today, defensive buy orders are still noted above barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers remain at 1.3200 and from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there, selling interest is expected at 1.3350 and 1.3370.
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Mid-Day Report: FX Markets Stay in Consolidation Mode Print E-mail
Market Overview | Written by ActionForex.com | Aug 29 14 13:16 GMT
The forex markets continue to stay in consolidative mode in early US session, without any stimulus for fresh moves. Yen reversed some of the risk aversion triggered gains ad is back under pressure against other major currencies. Meanwhile, dollar continues to be mixed in tight range. Released from US, personal income rose 0.2% in July while spending dropped -0.1%. Headline PCE was unchanged at 1.6% yoy while core PCE was also unchanged at 1.5% yoy. Released from Canada, GDP rose 0.3% mom in June, inline with consensus. IPPI dropped -0.3% mom in July while RMPI dropped -1.4% mom.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 29 14 11:31 GMT
EUR: The single currency remained under pressure but defensive buy orders are still noted above barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers are lowered to 1.3200 and from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there, selling interest is expected at 1.3350 and 1.3370. Option expires today include: 1.3150, 1.3200 (huge), 1.3215, 1.3235, 1.3245 and 1.3250 (2 bln).
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Daily Report: Ukraine Tensions Hit Risk Markets, Dollar Mixed in Tight Range Print E-mail
Market Overview | Written by ActionForex.com | Aug 29 14 05:26 GMT
Risk markets were mildly hit by deterioration in Ukraine's situation. S&P 500 closed below 2000 handle by dropping -3.38 pts to 1996.74 while DJIA closed -42.44 pts down at 17079.57. Asian equities are also generally lower with Nikkei down -0.3% at the moment while HK HSI is down -0.25% at the time of writing. The currency markets are rather steady though. Dollar continues to stay in tight range against European majors and yen and maintain bullish outlook. Meanwhile, the greenback is staying mildly bearish against commodity currencies.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 28 14 13:27 GMT
EUR: The single currency slipped as the greenback recovered across the board on news that Russian troops entering in Ukraine, the release of better-than-expected US GDP data also helped supporting dollar, bids at 1.3185 were filled but defensive buy orders are still noted above barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers are lined up from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops placed above there, selling interest is expected at 1.3350 and 1.3370.
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Mid-Day Report: Dollar Mildly Higher as Q2 GDP Revised Up Print E-mail
Market Overview | Written by ActionForex.com | Aug 28 14 12:43 GMT
Dollar strengthened against European majors earlier today and is gathering some more steam after better than expected economic data. Q2 GDP growth in US was revised up to 4.2%, from initial estimate of 4.0%, and beat expectation of downward revision to 3.9%. GDP price index was also revised up to 2.1% versus expectation of 2.0%. Initial jobless claims was relatively unchanged at 298k in the week ended August 23. While the greenback is mildly higher against European majors, it's stuck in this week's tight range and the greenback is also soft against yen and commodity currencies. Also, weakness in European stock index could drag S&P 500 back below 2000 handle today.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 28 14 09:01 GMT
EUR: The single currency continued to edge higher after rebounding from yesterday's low of 1.3153 and offers at 1.3200 were filled, however, sell orders are still seen from 1.3220 up to 1.3250 (stops above), more offers are tipped at 1.3280-85, 1.3300 and 1.3320 with stops building up above there, selling interest is expected at 1.3350 and 1.3370. On the downside, bids are raised to 1.3185 and above indicated barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. Option expires today include: 1.3200, 1.3250 and 1.3255.
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Daily Report: Dollar Pull Back Continues, Aussie Lifted by Capex Print E-mail
Market Overview | Written by ActionForex.com | Aug 28 14 04:23 GMT
Dollar continues to pull back from recent rally as it lacked stimulus for further rise. The dollar index is now at around 82.3 level after surging to as high as 82.72 earlier this week. The greenback is mildly softer against European majors and yen but remains in tight range so far. Though, clearer weakness is seen against commodity currencies. USD/CAD's break of 1.08959 support confirmed near term topping and we'd likely see deeper correction. AUD/USD also extended the rebound form 0.9236 and is possibly heading back towards 0.9504 resistance. Nonetheless, NZD/USD lags behind and is trading below 0.8429 near term resistance and maintains near term bearish outlook.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 14 14:49 GMT
EUR: The single currency recovered after holding above indicated barrier at 1.3150, bids are still noted above this level with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers are seen at 1.3200 and from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops building up above there, selling interest is expected at 1.3350 and 1.3370.
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Mid-Day Report: Euro Mildly Higher Against Dollar, But Stays Soft in Crosses Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 14 12:33 GMT
Euro recovers mildly against dollar today. Some people attributed that to comments from German finance minister Schaeuble. However, it should be noted that the common currency has indeed weakened against Sterling and Yen today. The recovery in EUR/USD should be more related to retreat in the greenback. In particular, dollar dipped quite sharply against commodity currencies today. With lack of economic data from US, we'd expect dollar's retreat to continue in US session.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 14 08:59 GMT
EUR: The single currency slipped again earlier today, bids at 1.3180 and 1.3165 were filled, however, buy orders are still noted above option barrier at 1.3150 with stops building up below there, more buying interest is located at 1.3135, 1.3120 and 1.3100-05 (stops below), fresh demand should emerge around 1.3085, 1.3065 and 1.3050. On the upside, offers are seen at 1.3200 and from 1.3220 up to 1.3250 (stops above), more sell orders are tipped at 1.3280-85, 1.3300 and 1.3320 with stops building up above there, selling interest is expected at 1.3350 and 1.3370. Option expires today include: 1.3150, 1.3200 (large), 1.3215 and 1.3300 (1 bln).
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Daily Report: Euro Stays Weak on Easing Speculations Print E-mail
Market Overview | Written by ActionForex.com | Aug 27 14 06:19 GMT
Solid consumer confidence data and easing geopolitical tensions pushed US equities higher overnight. S&P 500 closed at 2000.02, above 2000 handle for the first time on record. DOW also rose slightly by 29.8 pts to close at 17106.70. In the currency markets, Euro remains the weakest major currency this week on easing speculations. Dollar is mixed, though, as it failed to extend recent rally against commodity currencies. In particular, USD/CAD reversed after hitting 1.0997 and is possibly heading further south in near term. The economic calendar continues to be rather light today. German Gfk consumer sentiment for September dropped more than expected to 8.6. Swiss UBS consumption indicator dropped to 1.66 in July.
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