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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 | Jan 17 14 14:59 GMT
GBP: The British pound jumped sharply in London on stronger-than-expected UK data and offers at 1.6405-10 and 1.6440-50 were filled, however, mixture of offers and stops in good size remains at 1.6465-75, more sell orders are tipped at 1.6500-20 area. On the downside, bids are raised to 1.6420-30 and also at 1.6370-80, stops are raised to 1.6360 and 1.6360, combination of bids and stops remains at 1.6300-10.
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Mid-Day Report: Sterling Jumps on Retail Sales, But Held Below Resistance Print E-mail
Market Overview | Written by ActionForex.com | Jan 17 14 14:29 GMT
Sterling was boosted by strong retail sales data released in European session and strengthened broadly. Sales including fuel grew an impressive 2.6% mom in December versus expectation of 0.5% mom. That's the strongest December reading on record since the series began back in 1996. The data was seen as a major surprise by analysts and reinforced the optimistic view of improving confidence among consumers. And that also raised the change of further improvement in unemployment rate which currently stood at 7.3% in the three months through November. BoE has clearly noted in its forward guidance that 7% level is a threshold for considering removal of policy stimulus.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 17 14 08:37 GMT
EUR: The single currency went through a pretty choppy session yesterday and further sideways trading is in store. At the moment, offers are lowered to 1.3620-25 and in good size at 1.3670 and 1.3685-90, combination of offers and stops is seen at 1.3700, more selling interest is located at 1.3725-35 and further out at 1.3750. On the downside, bids at 1.3600 were filled but buy orders are still noted at 1.3575-80 and 1.3550-55 (stops below), combination of bids and stops is located at 1.3530 and more buy orders are expected at 1.3500-10. Option expires today include: 1.3500, 1.3510, 1.3530, 1.3575, 1.3600, 1.3615, 1.3650, 1.3700, 1.3725, 1.3770, 1.3775, 1.3800 and 1.3900.
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Daily Report: Markets in Consolidation ahead of Weekend Print E-mail
Market Overview | Written by ActionForex.com | Jan 17 14 03:23 GMT
The markets are rather quiet in consolidative mode ahead of the weekend. DOW's rebound lost momentum well ahead of the 16588.25 historical high and closed down -64.93 pts at 16417.01. It will like stay in recent range for the rest of the week. The dollar index struggling around 81 level for the moment. 10 year yield took a beating and closed down at 2.843% but was held above recent low of 2.819%. The point to watch today is whether yield would tumble again and drag down yen crosses. Otherwise, the forex markets are generally staying in range trading too.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 16 14 15:10 GMT
EUR: The single currency continued to find good support just below 1.3600 and has rebounded in NY morning, offers at 1.3630 and 1.3645-50 were filled but sell orders are tipped at 1.3670 and 1.3685, combination of offers and stops is seen at 1.3700, more selling interest is located at 1.3725-35 and further out at 1.3750. On the downside, bids are now seen from 1.3600 down to 1.3550, combination of bids and stops is located at 1.3530 and more buy orders are expected at 1.3500-10.
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Mid-Day Report: Dollar Mildly Softer Despite Stronger CPI Print E-mail
Market Overview | Written by ActionForex.com | Jan 16 14 13:48 GMT
Dollar is mildly softer while yen seems to be reversing in early US session. Inflation data from US saw CPI accelerated more than expected to 1.5% yoy in December. Core CPI was unchanged at 1.7% yoy as expected. Initial jobless claims dropped slightly to 326k in the week ended January 11. A focus later today is on outgoing Fed chairman Bernanke's speech. Ever since the poor NFP released last Friday, Fed officials sung a chorus to talked down the significance of that piece of data. And, all of them reinforced the case that Fed will continue tapering the asset purchase program at measured pace at every FOMC meeting this year. Bernanke is expected to deliver similar message if he touches on monetary policies.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 16 14 08:47 GMT
EUR: Although the single currency bounced off yesterday's low of 1.3581, offers are still seen at 1.3630 and 1.3645-50, sell orders are tipped at 1.3670 and 1.3685, combination of offers and stops is seen at 1.3700, more selling interest is tipped at 1.3725-35 and further out at 1.3750. On the downside, bids are now seen from 1.3580 down to 1.3550, combination of bids and stops is located at 1.3530 and more buy orders are expected at 1.3500-10. Option expires today include: 1.3500, 1.3525 (large), 1.3575, 1.3600, 1.3650 (large) and 1.3750.
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Daily Report: Aussie Slumped after Poor Job Data Print E-mail
Market Overview | Written by ActionForex.com | Jan 16 14 05:18 GMT
Aussie slumped sharply today after shockingly poor employment report. The job market contracted -22.6k in December versus expectation of 10.3k growth. The details were even worse as full time positions dropped by -31.6k while part-time positions rose by 9k. Unemployment rate was unchanged at 5.8% but it should be noted that the participation rate dropped further to 64.6% from 64.8%. Overall results were disappointing and indicated labor market weakness. Before the job report, it's believed that RBA would be cautious on having another rate cut even though the bias is still easing. The central bank would opt to have lower exchange rate to stimulate the economy instead. But the weak data raised the speculations that RBA could be forced to act again even though it would at least wait for another round of job data for January before deciding.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 15 14 14:41 GMT
EUR: The single currency continued to head south in European session, buy orders at 1.3590-00 were filled but mixtures of bids and stops are located at 1.3560-70 and in good size at 1.3540-50, more buy orders are tipped at 1.3520-30 and 1.3500-10 with bigger stops building up below 1.3485-90. On the upside, offers are lowered to 1.3630, 1.3645-50 and 1.3685, combination of offers and stops is seen at 1.3700, more selling interest is tipped at 1.3725-35 and further out at 1.3750.
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Mid-Day Report: Dollar Soars as Empire State Manufacturing Beat Expectations Print E-mail
Market Overview | Written by ActionForex.com | Jan 15 14 13:52 GMT
Dollar is gather another round of upside momentum in early US session after release of solid economic data. The empire state manufacturing index jumped sharply to 12.5 in January versus expectation of 4.5. Headline PPI accelerated to 1.2% yoy in December versus expectation of 0.8% yoy. Core PPI also accelerated to 1.4% yoy versus being unchanged at 1.3%. yoy. The greenback has now reversed all the post NFP loss against European majors and current development suggests that EUR/USD is heading back to last week's low of 1.3547 while USD/CHF is heading back to last week's high of 0.9127. GBP/USD could also head lower to 1.6126 support. Focus will turn to Fed's Beige Book economic report to be released in US afternoon. Chicago Fed Evans and Atlanta Fed Lockhart will also speak today.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 15 14 08:58 GMT
EUR: The single currency slipped earlier today in Asian morning, buy orders at 1.3620-30 were filled but bids are still noted at 1.3590-00, mixtures of bids and stops are located at 1.3560-70 and in good size at 1.3540-50, more buy orders are tipped at 1.3520-30 and 1.3500-10 with bigger stops building up below 1.3485-90. On the upside, offers are lowered to 1.3645-50, 1.3685 and 1.3700 (stops above), more selling interest is tipped at 1.3725-35 and further out at 1.3750. Option expires today include: 1.3500 (large), 1.3600, 1.3700 and 1.3750.
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Daily Report: Dollar Extends Rebound on Hawkish Fedspeaks Print E-mail
Market Overview | Written by ActionForex.com | Jan 15 14 05:10 GMT
Dollar extended its broad based rebound overnight as talked up by comments of Fed officials. The dollar index was clearly lifted after dipping to 80.44 and is back at 80.87 at the time of writing. Strength in the greenback is clearly seen against Aussie and yen, which reversed much of last week's move. USD/CAD extended recent rally and continues its march to 1.1 handle. Meanwhile, Euro and Swiss franc is starting to give way too. Nonetheless, we're a bit skeptical on the sustainability of dollar's rebound in near term. It should be noted that treasury yields were just mildly higher after the sharp fall last week. 10 year yield closed at 2.869% comparing to this week's low of 2.819%. 30 year yield closed at 3.800% comparing to this week's low of 3.763%.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 14 14:25 GMT
EUR: The single currency moved higher and offers at 1.3670-90 area were filled but indicated sell orders at 1.3700 capped euro's upside so far, mixture of offers and stops is still seen above 1.3700, more selling interest is tipped at 1.3725-35 and further out at 1.3750. On the downside, buy orders are still noted at 1.3625-30 and 1.3590-00, mixtures of bids and stops are located at 1.3565-70 and in good size at 1.3540-50, more buy orders are tipped at 1.3520-30 and 1.3500-10 with bigger stops building up below 1.3485-90.
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Mid-Day Report: Dollar Mixed after Retail Sales Release Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 14 13:43 GMT
The greenback remains mixed for in early US session has little response to the economic data released. Retail sales rose 0.2% in December versus expectation of 0.3%. Ex-auto sales rose 0.7% versus consensus of 0.4%. Import price index rose 0.0% mom in December versus expectation of 0.5%. Dollar continues to recover against Aussie and yen. But it's mildly softer against Sterling. Also the greenback is stuck in tighter range against Euro and Canadian dollar. Philadelphia Fed Plosser and Dallas Fed Fisher will speak today and a focus is on their views on the disappointing employment data in December.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 14 08:31 GMT
EUR: The single currency remained confined within narrow range and although bids at 1.3650 were filled, buy orders are still noted at 1.3625-30 and 1.3590-00, mixtures of bids and stops are located at 1.3565-70 and in good size at 1.3540-50, more buy orders are tipped at 1.3520-30 and 1.3500-10 with bigger stops building up below 1.3485-90. On the upside, offers remain from 1.3670 up to 1.3700 (stops placed above 1.3685 and figure), more selling interest is expected at 1.3725-35 and further out at 1.3750. An 1.3550 option strike will expire today.
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Daily Report: Dollar and Yen Retraced, Stocks Tumbled Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 14 04:17 GMT
DOW dropped -179 pts, or -1.09% overnight to close at 16257.94. Also, it's the biggest plunge since last September. That compares to the record close of 16576.66 made on December, nearly -2% off. S&P 500 dropped -23.17 pts, or -1.26% to close at 1819.12, comparing to record close of 1848.36 made also on December 31, -1.6% off. Some analyst viewed the moves as late reaction to Friday's NFP disappointment. Also, investors are getting nervous ahead of earnings releases this week which could add pressures to the markets. Treasury yields extended last week's decline with 30 year yield dropping to 3.767% while 10 year yield dropped to 2.827%. Dollar index's decline, on the other hand, lost some momentum as it hits the flat 55 days EMA and hovers around 80.6 at the time of writing.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 14 13:47 GMT
GBP: The British pound dropped today since London morning on active selling by real money accounts, bids at 1.6420-30 were filled, mixture of bids and stops at 1.6370-80 is in focus, more buy orders are located at 1.6350,1.6325-35 , and 1.6300-10. On the upside, offers are lowered to 1.6470-80 and also in good size at 1.6515-20 (stops above), more selling interest should emerge around 1.6540-50 with stops placed above 1.6550, sell orders are located at 1.6580-00 area with some stops placed above 1.6610.
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Mid-Day Report: Yen Strength Continues, Euro Supported by Italian Auctions Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 14 13:08 GMT
Yen strength remains the main theme in the markets as the week starts. Sterling is, on the other hand, the weakest currency so far on concern of slowdown in the recovery. Euro, on the other hand, is firm after positive Italian bond auctions. Italian treasury sold EUR 8.2b in bonds today, the biggest auction since May 2011, close to maximum target of EUR 8.25b. That include EUR 4b in a new three year note which was sold at 1.51% yield, down from prior 1.79% and hit a record low. Bid-to-cover ratio, though, dropped to 1.38, comparing with prior 1.80. Also, EUR 1.7b in 2028 bonds were sold at 4.26% yield, bid-to-cover ratio at 1.29. EUR 2.5b in 2021 bond were sold with yield at 3.17%, bid-to-cover ratio at 1.38.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 14 10:14 GMT
EUR: The single currency maintained a firm bias after Friday's post-NFP rally, sell orders at 1.3670-80 were filled but offers are still seen at 1.3685 and 1.3700 (stops above figure), more selling interest is expected at 1.3725-35 and further out at 1.3750. On the downside, bids are raised to 1.3650, 1.3630 and at 1.3590-00, mixtures of bids and stops are located at 1.3565-70 and in good size at 1.3540-50, more buy orders are tipped at 1.3520-30 and 1.3500-10 with bigger stops building up below 1.3485-90. Option expires today include: 1.3500, 1.3540, 1.3550, 1.3600, 1.3625 and 1.3700.
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Daily Report: Yen Rises Broadly in Asia, Dollar Soft Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 14 03:49 GMT
The Japanese yen surges broadly in Asian session, in particular with USD/JPY moving up 103.90 support. The greenback is pressured against other major currencies today as the post NFP selloff continues. The much weaker than expected NFP report triggered speculations that Fed could slow down the pace of tapering of asset purchase. Before the NFP report, markets are expecting Fed to dial back monthly purchase by USD 10b at every FOMC meeting and end the program by the end of the year. Two Fed hawks, St. Louis Fed Bullard and Richmond Fed Lacker, have already tried to talk down the significance of the NFP disappointment over the week. And a major focus this week is how others would respond to the question. The Fedspeaks to watch include Philadelphia Fed Plosser and Dallas Fed Fisher on Tuesday, Chicago Fed Evans on Wednesday and San Francisco Fed Williams and Fed chairman Bernanke on Thursdays.
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