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Feb 27 15:18 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 | Feb 27 15 14:23 GMT
EUR: The single currency recovered after yesterday's selloff to 1.1184 but offers are lowered to 1.1250, 1.1280 and 1.1300, more sell orders are reported at 1.1320-25, 1.1350 and in good size at 1.1380-90 (stops above), selling interest should emerge around 1.1400 and 1.1425. On the downside, bids remain at 1.1195-00, 1.1180-85 and 1.1150, more buy orders are reported at 1.1150 and 1.1115, mixture of bids and stops is tipped at 1.1090-00.
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Mid-Day Report: Euro Stays Weak Despite Stronger German CPI Print E-mail
Market Overview | Written by ActionForex.com | Feb 27 15 14:22 GMT
Euro is set to be the weakest major currencies this week in spite of better than expected inflation data. German CPI rose strongly by 0.9% mom in February. The yoy rate turned positive at 0.1% yoy. Both were above expectation. Meanwhile, the German Bundestag approved the extension of Greece's bailout with overwhelm 542 members said "yes". That was indeed the biggest majority for a Eurozone bailout in the past five years, partly because Chancellor Angela Merkel's dominate coalition in the lower house. Other news from Europe saw Swiss KOF leading indicate dropped to 90.1 in February but that was better than expectation of 87. UK Gfk consumer sentiment was unchanged at 1 in February.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 27 15 10:24 GMT
EUR: The single currency has remained under pressure after yesterday's selloff, offers are lowered to 1.1250, 1.1280 and 1.1300, more sell orders are reported at 1.1320-25, 1.1350 and in good size at 1.1380-90 (stops above), selling interest should emerge around 1.1400 and 1.1425. On the downside, bids are seen at 1.1195-00, 1.1180-85 and 1.1150, more buy orders are reported at 1.1150 and 1.1115, mixture of bids and stops is tipped at 1.1090-00. Option expires today include: 1.1250 (over 1 bln), 1.1300 (1 bln), 1.1325 (over 1 bln), 1.1400 (close to 2 bln) and 1.1500 (over 1 bln).
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Daily Report: Dollar Rose on Inflation Data and Fed Comments, Stays Firm Print E-mail
Market Overview | Written by ActionForex.com | Feb 27 15 02:55 GMT
Dollar jumped overnight as lifted by stronger than expected core inflation data as well as comments from Fed officials. San Francisco Fed John Williams said in an interview that the first rate hike could happen "this summer or this fall" if data come out as he expected. Meanwhile, he's also optimistic that US will release full employment by the end of this year and inflation will reach 2% level by the end of next year. He noted that Fed should start raising rates before that. Meanwhile, St Louis Fed James Bullard said Fed should drop the word "patient" in the next FOMC statement to give it flexibility to hike rates in Summer.
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Mid-Day Report: Dollar Lifted by Fed Bullard, Resuming Up Trend? Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 15 15:01 GMT
Dollar stages a strong rebound in early US session and could be starting to gather steam for up trend resumption. Some analysts attribute dollar's strength to comments from St Louis Fed James Bullard. Bullard said the Fed should made a change to the FOMC statement next month, dropping the famous word "patient", to pave the way for rate hike in the summer. Also, he noted that today's inflation data showed the core "being a little hotter" than expected and would "bolster confidence a little bit" that inflation is heading back towards target. Meanwhile, he noted that even if Fed starts to hike rate, that's only "normalization" rather than "tightening" as Fed still have very accommodative policy. Also, Bullard said that labor markets are "improving so rapidly". And it would "seems like a bit little extreme" if unemployment drops below 5% and Fed still keeps rate near zero.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 15 14:42 GMT
EUR: The single currency tumbled today on dollar's broad-based rebound, bids at 1.1320, 1.1295-00, 1.1275-85 together with stops below 1.1270 were tripped, however, some buy orders are still noted at 1.1240 and 1.1225, mixture of bids and stops is located at 1.1200. On the upside, offers are now seen at 1.1280, 1.1300 and 1.1320, more sell orders are reported at 1.1350 and in good size at 1.1380-90 (stops above), selling interest should emerge around 1.1400 and 1.1425.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 15 09:07 GMT
EUR: The single currency met resistance at 1.1374 and has retreated in European morning, offers are still noted at 1.1270-75, 1.1390-00 and 1.1425, sell orders are located at 1.1445-50 (stops above) and 1.1485, selling interest is expected at 1.1500 (stops above) and 1.1520-30. On the downside, bids are seen at 1.1320, 1.1295-00 and 1.1275-85 (stops below 1.1270), buying interest is tipped further out at 1.1240-50, 1.1225 and 1.1200. Option expires today include: 1.1400, 1.1505 (large), 1.1510 (large) and 1.1550 (over 1 bln).
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Daily Report: Markets in Risk Seeking Mode, Sterling and Canadian Maintained Strength Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 15 07:35 GMT
The financial markets are generally in risk seeking mode. DJIA closed at new record high of 18224.57 yesterday, up 15.38 pts. S&P 500 also made new intraday record high of 2119.59 but closed slightly down, by -0.08% at 2113.83. Positive sentiments carried on in Asian markets with Nikkei closed up 200.59 pts, or 1.08% at 18785.79. US treasured edged lower but loss was limited. Nonetheless, it should be noted that 10 year yield stayed below 2% handle and closed at 1.969%, slightly down. Gold managed to reclaim 1200 handle but recovery is so far quite weak. Crude oil also continues to gyrate around 50 handle. Dollar is slightly softer as recent consolidation continues with dollar index dipping to as low as 91.142 so far today but it's, after all, staying in recently established range.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 15 14:37 GMT
EUR: The single currency ran into heavy offers at 1.1389 in European session and has retreated, bids at 1.1345-55 were filled but buy orders are still seen at 1.1320, 1.1295-00 and 1.1275-85 (stops below 1.1270), buying interest is tipped further out at 1.1240-50, 1.1225 and 1.1200. On the upside, offers are now noted at 1.1360, 1.1390-00 and 1.1425, sell orders are located at 1.1445-50 (stops above) and 1.1485, selling interest is expected at 1.1500 (stops above) and 1.1520-30.
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Mid-Day Report: Canadian Dollar and Sterling Rose in Directionless Markets Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 15 13:20 GMT
The directions in the forex markets remained rather unclear. Canadian dollar is so far the strongest currency this week, as lifted by BoC Governor Stephen Poloz's comments yesterday. But USD/CAD's dip could only be seen as a leg inside the sideway consolidation pattern from 1.2797. The Loonie also faces risk of deeper fall in crude oil, which is now sustaining below 50 handle. Sterling is the second strongest major currency this week with GBP/USD extending recent rebound and EUR/GBP's down trend extended. But it should be noted that momentum in both pairs are far from being convincing. Also, GBP/USD is facing a key near term resistance level around 1.5540 and EUR/GBP is facing key long term support at 0.7250. Aussie did draw support from positive data from China but such rise is still seen as part of a near term consolidation pattern from 0.7625. More time is still needed to clear out the directions.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 15 10:23 GMT
EUR: The single currency has staged a strong rebound on dovish comments from Yellen, offers at 1.1360 and 1.1380 were filled, however, sell orders are still noted at 1.1390-00, 1.1425 and 1.1445-50 (stops above), selling interest is expected at 1.1485, 1.1500 (stops above) and 1.1520-30. On the downside, bids are now raised to 1.1345-55, 1.1320 and 1.1295-00, buy orders are reported at 1.1275-85 (stops below 1.1270), buying interest is tipped further out at 1.1240-50, 1.1225 and 1.1200. Option expires today include: 1.1280 (large), 1.1285 (large), 1.1300 (large), 1.1315 (large), 1.1400 and 1.1450.
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Daily Report: Mixed Reactions to Fed Yellen Testimony, Dollar Range Bound Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 15 06:46 GMT
Fed chair Janet Yellen's testimony to Congress yesterday was quite positive as she acknowledged the considerable progress in labor market. Meanwhile, She also saw the recent sharp decline in oil prices as positives to the economy. Nonetheless, markets' interpretations on her comments were rather mixed. Some analysts maintained that Fed would have the first rake hike in June. Meanwhile, some others saw Yellen's overall message hinting at a later hike. Such interpretations were also clearly reflected in the mixed reactions in the financial markets. DJIA closed up 92.35 pts, or 0.51% at 18209.19 while S&P 500 closed up 5.82 pts, or 0.28% at 2115.48. Both were historical highs. Treasury yields, on the other hand, dipped quite considerably with 30 year yield closed down at 2.598 and 10 year yield closed down at 1.988, back below 2 handle again. Dollar was stuck in tight range against other major currencies.
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Mid-Day Report: Dollar Cautiously in Range as Markets Await Fed Chair Yellen Print E-mail
Market Overview | Written by ActionForex.com | Feb 24 15 14:36 GMT
Dollar stay cautiously in range as markets await Fed chair Yellen's testimony to Congress. There are speculations that Yellen could sound a bit more hawkish than before, in particular after that stellar job report of January. And it's reported that Fed might hike rates as early as in June. However, judging from market actions, traders are not too committed to such dollar bullish case yet. We'll keep an eye on the reactions to Yellen's speech today. Elsewhere, Sterling was lifted briefly by comments from BoE governor Mark Carney but the strength quickly faded. Euro was also steady as European Commission accepted Greece's proposal.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 24 15 14:15 GMT
EUR: The single currency has rebounded again after finding support just below 1.1300, however, offers are still noted at 1.1360, 1.1380-90 and further out from 1.1430 up to 1.1450 (stops above), selling interest is expected at 1.1485, 1.1500 (stops above) and 1.1520, more sell orders are located at 1.1540-50. On the downside, bids remain at 1.1295-00, buy orders are reported at 1.1275-85 (stops below), buying interest is tipped further out at 1.1240-50, 1.1200 and 1.1180-85.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 24 15 10:06 GMT
EUR: The single currency found buying interest just below 1.1300 and recovered, however, offers are still noted at 1.1360, 1.1380-90 and further out from 1.1430 up to 1.1450 (stops above), selling interest is expected at 1.1485, 1.1500 (stops above) and 1.1520, more sell orders are located at 1.1540-50. On the downside, bids are seen at 1.1315-20 and 1.1300, buy orders are reported at 1.1275-85 (stops below), buying interest is tipped further out at 1.1240-50, 1.1200 and 1.1180-85. Option expires today include: 11.1285 (over 1 bln), 1.1300 (over 1 bln) and 1.1315 (large).
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Daily Report: Greece Unveiled Reform Proposal after Delay, Markets Steady Print E-mail
Market Overview | Written by ActionForex.com | Feb 24 15 04:16 GMT
The forex markets are generally staying in tight range so far this week. Sterling is trying to rally against other major currencies and reached new seven year high against Euro. But there is no follow through buying against dollar. The yen is also stuck in sideway pattern and even GBP/JPY is limited by last week's high of 184.19. Nonetheless, we're noticing some weakness in Aussie and Canadian dollar. Gold breached 1200 handle but is recovery back above this level. Meanwhile, crude oil stays a bit soft and is holding below 50 level. We'd see a test on 0.7625 in AUD/USD and 1.2697 in USD/CAD later this week.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 23 15 14:34 GMT
EUR: The single currency tumbled today, bids at 1.1315-20 and 1.1300 were filled but buy orders are still noted at 1.1275-85 (stops below), buying interest is tipped further out at 1.1240-50, 1.1200 and 1.1180-85. On the upside, offers are lowered to 1.1350-60, 1.1380-90 and further out from 1.1430 up to 1.1450 (stops above), selling interest is expected at 1.1485, 1.1500 (stops above) and 1.1520, more sell orders are located at 1.1540-50.
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Mid-Day Report: Euro Lower after German Ifo Missed Expectations Print E-mail
Market Overview | Written by ActionForex.com | Feb 23 15 13:40 GMT
Euro is mildly softer today after slightly disappointing German confidence data. The German Ifo business climate rose to 7 month high of 106.8 in February but missed expectation of 107.2. Current assessment gauge dropped to 111.3 versus expectation of rise to 112.7. Expectations gauge rose to 102.5, also missed expectation of 103.3. Nonetheless, Ifo noted in the statement "Satisfaction with the current business situation decreased somewhat, but companies expressed greater confidence in future business developments." Also, the German economy is proving robust in the face of geopolitical uncertainty." Euro is staying inside a three week range of 1.1261 and 1.1532 against dollar. Bias stays neutral for the moment but we'd watch for a break below 1.1261 later, which should trigger deeper decline to 1.1096 low.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 23 15 09:22 GMT
EUR: The single currency met heavy offers at 1.1430 on Friday and continued to trade lower especially in European morning, bids at 1.1355-60 were filled but buy orders (option related) are still noted at 1.1315-20, 1.1300 and 1.1275-85 (stops below), buying interest is tipped further out at 1.1240-50, 1.1200 and 1.1180-85. On the upside, offers are lowered to 1.1360-65, 1.1380-90 and further out from 1.1430 up to 1.1450 (stops above), selling interest is expected at 1.1485, 1.1500 (stops above) and 1.1520, more sell orders are located at 1.1540-50. Option expires today include: 1.1250 (close to 2 bln), 1.1275 (large), 1.1300 (large), 1.1320 (1 bln), 1.1335 (large), 1.1350 (large) and 1.1450 (close to 1 bln).
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Daily Report: Euro Steady Despite Greek News Print E-mail
Market Overview | Written by ActionForex.com | Feb 23 15 07:24 GMT
Euro stayed in tight range against dollar in spite of positive news from Greece. Greece was offered loan extensions of 4 months, compared with its request of 6 months. The debt-ridden country agrees to commit to the current program and the government would "refrain from any rollback of measures and unilateral changes to the policies and structural reforms... as assessed by the institutions". Greece would also provide a first list of reform measures on Monday for review by the institutions. A conclusion would be made by the end of April on the final list of reform measures Greece must adopt. The funds would then be disbursed after the conditions are agreed.
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