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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 | Feb 12 16 14:13 GMT
EUR: The single currency continued to trade lower and bids at 1.1265, 1.1250 and 1.1235 were filled, however, buy orders are reported at 1.1220, 1.1200 and 1.1185, buying interest is tipped at 1.1170 and 1.1150. On the upside, offers are lowered to 1.1275-80, 1.1300 and 1.1325, sell orders are expected at 1.1350 and 1.1375-80, selling interest should emerge around 1.1400, 1.1430 and 1.1450.
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Mid-Day Report: Dollar Pare Losses as Risk Markets Recover Print E-mail
Market Overview | Written by ActionForex.com | Feb 12 16 13:50 GMT
Dollar is mildly higher against Euro in early US session as stock markets are staging a recovery after suffering selloffs for the week. Crude oil also recovers even though it's held well below 30 handle. Released from US, headline retail sales rose 0.2% in January, higher than expectation of 0.1%. Ex-auto sales rose 0.1%, inline with consensus. Import price index dropped -1.1% mom in January versus expectation of -1.2% mom. In the currency markets, Yen is still set to end the week as the strongest major currencies with Swiss Franc. Meanwhile, Sterling and Dollar would remain the weakest ones.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 12 16 10:19 GMT
EUR: The single currency retreated after rising to 1.1377 yesterday, however, bids are still noted at 1.1265, 1.1250 and 1.1235, buy orders are reported at 1.1220, 1.1200 and 1.1185, buying interest is tipped at 1.1170 and 1.1150. On the upside, offers are seen at 1.1325, 1.1350 and 1.1375-80, selling interest should emerge around 1.1400, 1.1430 and 1.1450.
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Daily Report: Nikkei Drops further as Japan FM Warn on Yen Strength Print E-mail
Market Overview | Written by ActionForex.com | Feb 12 16 06:19 GMT
Stocks remain generally under pressure in Asian session today. Japan is back from holiday with Nikkei plunged to the lowest point in more than a year before paring some loss. Nikkei still trading down -640 pts, or -4.1% at the time of writing and is threatening 15000 handle. Japan finance minister Taro Aso warned investors about the strength in yen ans describe recent rise as "rough movements". He pledged to "watch the foreign-exchange market with a sense of tension, and we will act appropriately if that becomes necessary.” USD/JPY dipped to as low as 110.98 yesterday and turned into consolidations just ahead of 110 handle.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 11 16 14:27 GMT
EUR: The single currency rose to as high as 1.1368 before easing, offers are still noted at 1.1375-80, 1.1400 and 1.1430, selling interest should emerge around 1.1450, 1.1480 and 1.1500. On the downside, bids are seen at 1.1300, 1.1285 and 1.1265, buy orders are expected at 1.1250 and 1.1235, buying interest should emerge around 1.1220 and 1.1200.
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Mid-Day Report: Global Equities Rout Continue and Yen Extends Rally Print E-mail
Market Overview | Written by ActionForex.com | Feb 11 16 13:39 GMT
Global equities tumble today as investors perceived Fed chair Janet Yellen's testimony yesterday as less dovish than expected. It's generally believed that while Yellen highlighted the risk to growth and inflation, she didn't put rate hike in 2016 off the table. Yellen will have the second part of her testimony today. All major European indices are trading down for the moment with FTSE down -2.0%, DAX down -2.3%, CAC down -3.5%. US futures also point to triple digit loss in initial trading. Weakness in crude oil is another factor pressuring sentiments as WTI extends recent fall to as low as 26.22 so far. Gold's rally is accelerating and and took out 1240 handle. In the currency markets, yen and swiss franc stay the strongest major currencies this week followed by Euro. Meanwhile, Dollar, Sterling and commodity currencies are under much pressure.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 11 16 10:13 GMT
JPY: Dollar tumbled again today on broad-based weakness in the greenback, bids at 112.20-25, 112.00, 111.80-85, 111.50 and 111.20-25 were filled, mixture of bids and stops at 111.00 is in focus, however, buy orders are reported at 110.85, 110.65 and 110.50, buying interest is tipped at 110.30 and 110.00. On the upside, offers are lowered to 111.50, 111.65 and 111.85, sell orders are expected at 112.00, 112.20 and 112.50. Option expires today include: 111.00, 112.00, 113.00, 114.00, 116.00 (over 1.5 bln) and 117.50 (large).
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Daily Report: Equities Extends Decline With Oil, Yen Firm Print E-mail
Market Overview | Written by ActionForex.com | Feb 11 16 03:18 GMT
US equities ended mixed overnight as there was some support on expectations that Fed would delay further rate hike. But worries on growth also persisted. DJIA lost -99.64 pts or -0.62% to close at 15914.74. S&P 500 just ended slightly lower by -0.35 pts or -0.02% to close at 1851.86. Nasdaq, on the other hand, rose 14.83 pts or 0.35% to close at 4283.59. Nonetheless, Asian markets are generally lower today as Hong Kong HSI is down -730 pts or -3.8% as it's back from holiday. WTI crude oil extends recent fall and breaches 27 handle. In the currency markets, Yen and Swiss Franc remain the strongest major currencies for the weak on risk aversion. Canadian dollar is the weakest one on renewed weakness in oil and that's closely followed by Dollar.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 10 16 14:23 GMT
EUR: The single currency retreated in part due to long liquidations, bids at 1.1250 and 1.1235 were filled but buy orders are still noted at 1.1220, 1.1200, 1.1185 and 1.1165, buying interest is tipped at 1.1150, 1.1120 and 1.1100. On the upside, offers are seen at 1.1275-85, 1.1300 and 1.1320, sell orders are expected at 1.1350, 1.1375-80 and 1.1400, selling interest should emerge around 1.1430 and 1.1450.
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Mid-Day Report: Dollar Recovers as Fed Yellen Reiterates Gradual Rate Path Print E-mail
Market Overview | Written by ActionForex.com | Feb 10 16 14:21 GMT
Dollar is regaining some ground against Euro in early session, after suffering steep selloff since last week. In her prepared remarks for the testimony before House Financial Services Committee, Fed chair Janet Yellen noted that the central is still on course to pursue "gradual" adjustments to monetary policies. On the positive side, she noted continued advancements in domestic spending and business investments. Meanwhile, labor market continued to improve while recent slump in oil price didn't post much threat to inflation. She said that "ongoing employment gains and faster wage growth should support the growth of real incomes and therefore consumer spending." And, "global economic growth should pick up over time" with loose monetary policies elsewhere in the world. However, she did also note that financial conditions "have been less supportive to growth" Also, there were the "downside risks" regarding China. And, "should any of these downside risks materialise, foreign activity and demand for US exports could weaken and financial markets could tighten further."
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 10 16 10:32 GMT
EUR: The single currency eased after surging to 1.1338 yesterday, however, bids are still noted at 1.1250, 1.1235 and 1.1220, buy orders are reported at 1.1200, 1.1185 and 1.1165, buying interest is tipped at 1.1150, 1.1120 and 1.1100. On the upside, offers are seen at 1.1285, 1.1300 and 1.1320, sell orders are expected at 1.1350, 1.1375-80 and 1.1400, selling interest should emerge around 1.1430 and 1.1450. Option expires today include: 1.1000, 1.1075, 1.1100 (large), 1.1300, 1.1370 and 1.1390.
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Daily Report: Dollar Mixed as Markets Await Fed Chair Yellen Print E-mail
Market Overview | Written by ActionForex.com | Feb 10 16 03:42 GMT
US markets ended mildly lower last night after see-saw price actions. DJIA lost -12.67 pts or -0.08% to close at 16014.38 while S&P 500 lost -1.23 pts or -0.07% to close at 1852.21. Crude oil finally let go out 30 handle and dipped to as low as 27.74 and is trading around 28.4 for the moment. 10 year yield breached 1.7 briefly to 1.699 but recovered to close at 1.729. Risk aversion then came back in Asian session with Nikkei extending yesterday's -5.4% decline and is trading down -397 pts, or -2.47% at the time of writing. In the currency markets, Swiss Franc and Yen remain the strongest major currencies this week. Additional selling in Sterling has pushed it to be the weakest one, overwhelming commodity currencies. Dollar is mixed as markets await Fed chair Janet Yellen's testimony today.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 09 16 14:24 GMT
JPY: Dollar has remained under pressure after last week's selloff, bids at 115.20, 115.00, 114.85, 114.65 and 114.50 were filled but buy orders are expected at 114.20-25 and 114.00, buying interest should emerge around 113.85 and 113.50. On the upside, offers are lowered to 114.90-00, 115.20-25 and 115.50-55, sell orders are reported at 115.55, 115.80-85 and 116.00, selling interest is tipped at 116.30, 116.50 and 116.80.
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Mid-Day Report: Market Turmoil Continues as Yen Stays Strong Print E-mail
Market Overview | Written by ActionForex.com | Feb 09 16 14:02 GMT
This week's market turmoil continues into US session and there is no clear sign of stabilization yet. Japan Nikkei ended -918 pts, or -5.4% down at 16085.44. European indices are also trading down with FTSE losing -1.0%, DAX down -1.5% and CAC down -2.1% at the time of writing. US futures also point to a sharply lower open. Some analysts noted that banking stocks are weighed down by worries over problems in the energy sector, which would eventually damage banks' balance sheets. Funds are clearly seeking safety and Japan 10 year yield turned negative for the first time while gold extends recent rise and breached 1200. In the currency markets, yen and swiss franc are the biggest winner in current sentiments. Commodity currencies and sterling are hurt most.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 09 16 09:47 GMT
EUR: The single currency staged a strong rebound from 1.1086 but ran into resistance at 1.1238 and has eased. At the moment, bids are still noted at 1.1165, 1.1150 and 1.1120, buy orders are reported at 1.1100, 1.1080 and 1.1065, buying interest is tipped at 1.1050, 1.1030 and 1.1000. On the upside, offers are seen at 1.1200, 1.1220 and 1.1235, sell orders are expected at 1.1250, 1.1275 and 1.1300, selling interest should emerge around 1.1330 and 1.1350. Option expires today include: 1.1150 (large) and 1.1300 (over 1.5 bln).
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Daily Report: Yen Surges Further as Markets in Full Risk Averse Mode Print E-mail
Market Overview | Written by ActionForex.com | Feb 09 16 04:32 GMT
Yen extends broad based rally together with Swiss Franc as the financial markets are in full risk averse mode. DJIA dived to as low as 15803.55 overnight before paring some loss to close at 16027.05, down -117.92 pts or -1.1%. Nikkei followed and is trading down -836.09 pts or -4.92% at the time of writing. Australia ASX 200 is also down -125.9 pts or -2.5%. Some Asian markets including China, Hong Kong, South Korean, Singapore and Taiwan are still in Lunar New Year holiday. The risk averse sentiments can also be seen in bond markets with US 10 year yield closing at 1.735%, hitting the lowest level in a year. Japan 10 year yield also dropped below zero for the first time. Meanwhile, gold extended recent rally and breached 1200 handle briefly.
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Mid-Day Report: Yen High as Oil and Stocks Back Under Pressure Print E-mail
Market Overview | Written by ActionForex.com | Feb 08 16 13:38 GMT
Renewed selling in oil is giving stocks a hit in European session today and lifts the Japanese yen. After reaching an intraday high of 31.38, WTI crude oil is now back below 30 handle and is trading at 29.85 at the time of writing. The selloff is seen due to the lack of tangible result from the meeting between Saudi Arabia and Venezuela regarding measures to halt the free fall in oil prices. Morgan Stanley also warned that a global supply overhang wouldn't start clearing before 2017. Major European indices are losing more than -2% while DJIA futures is losing -1.5%, pointing to triple-digit loss as US markets open. In the currency markets, yen is broadly higher followed by dollar.
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Daily Report: Forex Markets Range Bound in Holiday Trading Print E-mail
Market Overview | Written by ActionForex.com | Feb 08 16 08:00 GMT
The forex markets opened the week quite quietly on thin holiday trading due to lunar new year. Major pairs and crosses are stuck in Friday's range even though mild strength is seen in sterling and commodity currencies. Late decline in US equities last week sent Asian stocks lower with Nikkei trading in red for most of the none. Nonetheless, the index staged a late rebound and ended 1.1% up at 17004.30. In other markets, WTI crude oil is holding above 30 handle for the moment but there is no strength to take it further higher. Gold, on the other hand, is rather firm and is trading reclaim 1170 handle again. Released today, Japan current account surplus widened to JPY 1.64T in December, labor cash earnings rose 0.1% yoy in December, Eco watchers current sentiment dropped to 46.6 in January. Eurozone Sentix investor confidence, Canada building permits and US labor market conditions index will be released later today.
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Weekly Review and Outlook: Dollar Sold off on Fed Expectations, Focus Back to Stocks and Oil Print E-mail
Market Overview | Written by ActionForex.com | Feb 07 16 04:41 GMT
Dollar tumbled broadly last week as markets were pricing out chance of a rate hike by Fed in near term. However, the greenback's weakness was overwhelmed by Aussie towards the end of the week as traders seemed unconvinced by the recovery in risk appetite. WTI crude oil also struggled to find follow through buying above 30 handle and there seemed to be some strong resistance around 35 region. Investors' cautious sentiment could also be seen in yen and swiss franc which ended the week as the strongest major currencies. The forex markets were mixed elsewhere. Stocks and energy markets will remain the main focus this week and currencies would follow.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 05 16 14:45 GMT
EUR: The single currency rose briefly to 3 and half month high of 1.1249 in NY morning after the release of US job data but the pair quickly dropped on dollar's broad-based strength as US unemployment rate fell below 5% to an 8-year low of 4.9%. Offers are now noted at 1.1190-00, 1.1245-50 and 1.1275, selling interest is tipped at 1.1300, 1.1330 and 1.1350. On the downside, bids are seen at 1.1100-10, 1.1080 and 1.1065, buy orders are expected at 1.1050, 1.1030 and 1.1000, fresh demand is located at 1.0980 and 1.0950.
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