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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: Stocks Rally May Take a Breath, Yen Stays Weak Print E-mail
Market Overview | Written by ActionForex.com | Mar 02 16 13:48 GMT
Rally in stocks and crude oil is losing some momentum today and commodity currencies retreat mildly. Asian equities rose strongly with Nikkei closed up 661 pts or 4.11% but buying didn't follow through to European session. FTSE, DAX and CAC opened the day higher pared back much gains. US futures also point to a mixed open after yesterday's strong rise. Crude oil is struggling in tight range around 34 while gold is also stuck in range around 1230. In the currency markets, Sterling continues to rebound, mainly thanks to cross buying against Euro. Euro, on the other hand, stays weakest on expectation of ECB easing. Also, Germany sold five year notes with yield at -0.36%, dipping further below zero.
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Daily Report: Equities Started March with Strong Rise, Aussie Lifted by GDP Print E-mail
Market Overview | Written by ActionForex.com | Mar 02 16 04:27 GMT
US equities staged a strong rally on the first day on March with DJIA closed up 348.58 pts, or 2.11%, at 16865.08. S&P 500 also rose 46.12 pts, or 2.39% to close at 1978.35. Asian equities follow with Nikkei trading up 650 pts or 4%, Hong Kong HSI up 520 pts or 2.6%, China SSE up 60 pts, or 2.2%. Crude oil is relatively steady, though, and continues to struggle around 34 handle, lacking momentum to push through 35. Gold is also bounded in recent range between 1200/50. In the currency markets, Aussie is leading the way higher on risk appetite and lifted additionally by stronger than expected GDP data. Canadian dollar's rally carries more significant technical implications as USD/CAD broke 1.3456 key support. Meanwhile, Euro remains the weakest one on expectation of further ECB easing.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Mar 01 16 14:49 GMT
EUR: The single currency traded narrowly today, bids are noted at 1.0850, 1.0830 and 1.0800, buy orders are reported at 1.0785 and 1.0750, buying interest is tipped at 1.0730 and 1.0700. On the upside, offers are seen at 1.0890-00, 1.0920 and 1.0935, sell orders are expected at 1.0950, 1.0975-80 and 1.1000, selling interest should emerge around 1.1025-30 and 1.1050.
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Mid-Day Report: Dollar and Yen Lower on Strength in Oil and Stocks Print E-mail
Market Overview | Written by ActionForex.com | Mar 01 16 13:43 GMT
Dollar and yen are generally lower today on strength in crude oil and stocks. WTI crude oil is back above 34 and European indices are generally up. US futures point to higher open and we'd probably see another day of rally in equities. New York Fed president William Dudley warned that "at this moment, I judge that the balance of risks to my growth and inflation outlooks may be starting to tilt slightly to the downside." And, "the recent tightening of financial market conditions could have a greater negative impact on the U.S. economy should this tightening prove persistent, and the continued decline in energy and commodity prices may signal greater and more persistent disinflationary pressures in the global economy than I currently anticipate." Released in US session, Canada GDP rose 0.2% mom in December. ISM manufacturing index will be released next.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Mar 01 16 10:30 GMT
EUR: The single currency has remained under pressure, however, bids are noted at 1.0850, 1.0830 and 1.0800, buy orders are reported at 1.0785 and 1.0750, buying interest is tipped at 1.0730 and 1.0700. On the upside, offers are seen at 1.0890-00, 1.0920 and 1.0935, sell orders are expected at 1.0950, 1.0975-80 and 1.1000, selling interest should emerge around 1.1025-30 and 1.1050. Option expires today include: Option expires today include: 1.0680 (large), 1.0800 (large), 1.0850, 1.0885, 1.0900 (large), 1.0910 (large), 1.0930 and 1.1000 (over 1bln).
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Daily Report: Aussie Steady after RBA, China PMIs Disappoint Print E-mail
Market Overview | Written by ActionForex.com | Mar 01 16 04:13 GMT
Australian dollar remains steady after RBA left the cash rate unchanged at 2.00% as widely expected. The central bank provided nothing new in the accompanying statement. It noted that "Over the period ahead, new information should allow the Board to judge whether the improvement in labour market conditions is continuing and whether the recent financial turbulence portends weaker global and domestic demand. Continued low inflation would provide scope for easier policy, should that be appropriate to lend support to demand." Also from Australia, current account deficit widened to AUD -21.2b in Q4. Building approvals dropped -7.5% mom in January. New Zealand terms of trade index dropped -2.0% qoq in Q4.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 29 16 15:07 GMT
EUR: The single currency has dropped again today, bids at 1.0900-10 and 1.0880 were filled but buy orders are reported at 1.0860, 1.0830, 1.0800 and 1.0785, buying interest is tipped at 1.0750, 1.0730 and 1.0700. On the upside, offers are lowered to 1.0910-20, 1.0940, 1.0965-75 and 1.1000, sell orders are expected at 1.1025-30, 1.1050 and 1.1080, selling interest should emerge around 1.1100, 1.1120 and 1.1135, mixture of offers and stops is located at 1.1150.
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Mid-Day Report: Euro Tumbles as CPI Boosts ECB Easing Bets Print E-mail
Market Overview | Written by ActionForex.com | Feb 29 16 13:43 GMT
Euro and Swiss Franc are leading the way lower today as weaker than expected Eurozone inflation reading boosts bet that ECB will expand easing in March. Yen stays generally firm but lacks momentum. European equities followed Asia lower but recovered after China announced new easing measures. US futures also pare some earlier losses and point to flat open. Released from Canada, Current account deficit was relatively unchanged at CAD -15.4b in Q4. IPPI rose 0.5% mom in January while RMPI dropped -0.4% mom.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 29 16 10:53 GMT
EUR: The single currency has fallen again after intra-day brief bounce to 1.0963, however, bids are still noted at 1.0900-10, 1.0880 and 1.0860, buy orders are reported at 1.0830, 1.0800 and 1.0785, buying interest is tipped at 1.0750, 1.0730 and 1.0700. On the upside, offers are now seen at 1.0940, 1.0965-75 and 1.1000, sell orders are expected at 1.1025-30, 1.1050 and 1.1080, selling interest should emerge around 1.1100, 1.1120 and 1.1135, mixture of offers and stops is located at 1.1150. Option expires today include: 1.0800 (over 1 bln), 1.0900 (over 1 bln), 1.0925 (large), 1.0935 (large), 1.1000 (over 1 bln), 1.1015, 1.1025, 1.1050, 1.1055, 1.1125, 1.1135 and 1.1150.
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Daily Report: Yen Higher as China Leads Asians Down Print E-mail
Market Overview | Written by ActionForex.com | Feb 29 16 05:36 GMT
Yen opens the week mildly firmer as China stocks led Asian equities lower. Investors are also dissatisfied with the lack of concrete measures by G20 leaders after this year's market turmoil. The joint communique just noted that "all policy tools - monetary, fiscal and structural - individually and collectively". Some analysts even thought that the communique tried to talk down the risks the global economies are facing. In China, Shanghai SSE composite tumbles in initial trading and is trading -3.3% lower at the time of writing, heading closer to the lowest level since November 2014. There were speculations that the government would announce additional stimulus measures over the weekend and investors were clearly disappointed with the lack of that. Also, the china yuan falls for the seventh straight day as PBoC lowered the reference rate again. Main focus will turn to manufacturing PMIs to be released on Tuesday.
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Weekly Review and Outlook: Equities Followed Oil Higher but Momentum Doubtful, Dollar Strengthening Print E-mail
Market Overview | Written by ActionForex.com | Feb 27 16 10:49 GMT
Global equities staged a rebound last week as led by rise in oil price. Both DJIA and S&P 500 took out 55 days EMA even though momentum was unconvincing. Meanwhile, WTI crude oil tried to rise through 55 days but failed so far. Receding risk aversion pushed commodity currencies higher, in particular Canadian dollar. Meanwhile, dollar was indeed the second strongest major currency and the development in dollar index suggests more near term strength. Meanwhile, European majors were the weakest major currencies. In particular, Sterling was weighed down heavily by Brexit worries. A number of economic data from US will be watched this week, including NFP and ISMs. But the developments in crude oil and stocks would remain the main driver in the financial markets.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 16 14:33 GMT
EUR: The single currency tumbled today on dollar's broad-based strength in part due to the release of solid US GDP data, bids at 1.1000-05, 1.0985 and 1.0965 were filled but buy orders are expected at 1.0950, 1.0920 and 1.0900, buying interest should emerge around 1.0880, 1.0860 and 1.0830, fresh demand is seen at 1.0800. On the upside, offers are now noted at 1.0985-90, 1.1005 and 1.1025-30, sell orders are expected at 1.1050, 1.1065-70 and 1.1080, selling interest is tipped at 1.1100, 1.1120, 1.1135 and 1.1150.
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Mid-Day Report: Dollar Mildly Higher on GDP Revision, Oil Extends Rally Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 16 14:07 GMT
Dollar is mildly higher against European majors and yen in early US session after positive economic data. Q4 GDP growth was revised up to 1.0% qoq, comparing to expectation of downward revision to 0.4% qoq. GDP price index was also revised up to 1.0% versus expectation of 0.8%. Trade deficit, however, came in wider than expected at USD -62.0b in January. But dollar's strength is being overwhelmed by commodity currencies on risk appetite. Crude oil seems to be finally making a decisive move today and surges to as high as 34.39 so far, taking out 55 days EMA. Rebound in oil is lifting European stocks indices and US futures point to higher open.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 16 10:44 GMT
EUR: The single currency retreated after meeting resistance at 1.1068, offers are now noted at 1.1050-60, 1.1080 and 1.1100, sell orders are reported at 1.1120, 1.1135 and 1.1150, mixture of offers and stops is located at 1.1200. On the downside, bids are seen at 1.1000-05, 1.0985 and 1.0965, buy orders are expected at 1.0950, 1.0920 and 1.0900, buying interest should emerge around 1.0880, 1.0860 and 1.0830, fresh demand is seen at 1.0800. Option expires today include: 1.0900 (large), 1.0910 (large), 1.0970, 1.0980, 1.1000, 1.1050, 1.1060, 1.1100 (large), 1.1150 and 1.1200.
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Daily Report: Crude Oil Leads Stocks Higher, Commodity Currencies Firm Print E-mail
Market Overview | Written by ActionForex.com | Feb 26 16 09:00 GMT
Crude oil continues to lead risk markets today. WTI edges higher to 33.42 and takes global equities up. At the time of writing, FTSE is trading up 1.2%, DAX up 2.1%, CAC up 1.8%. Gold, on the other hand, continues to stay in sideway trading and looks set to have another pull back. In the currency markets, commodity currencies are generally higher for the week on rebound in stocks. European majors, in particular Sterling, stay the weakest ones. It should be noted that both DJIA and S&P 500 took out 55 days EMA again yesterday. Further rise in US stocks today would confirm near term reversal in sentiments.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 16 14:01 GMT
EUR: The single currency continued meeting resistance just below 1.1050 and offers are noted at 1.1045-50 and 1.1080, sell orders are reported at 1.1100, 1.1120 and 1.1135, selling interest is tipped at 1.1150 and 1.1200. On the downside, bids are seen at 1.1000, 1.0985 and 1.0965, buy orders are expected at 1.0950, 1.0920 and 1.0900, buying interest should emerge around 1.0880, 1.0860 and 1.0830, mixture of bids and stops is located at 1.0800.
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Mid-Day Report: Yen Mildly Lower as Markets Look for Direction Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 16 13:51 GMT
The financial markets remain rather indecisive for the moment. European indices shrugged off the steep -6.4% loss in China's SSE composite. FTSE and CAC are trading up more than 2% at the time of writing while DAX is up 1.5%. However, US futures are pointing to a mixed open. WTI crude oil is mildly lower today but there is so far no follow through selling. Some support is seen in commodity currencies, in particular Canadian dollar while yen trades mildly lower. The main focus today will be on whether US stocks would recent rebound. In particular, DJIA and S&P 500 will take on 55 days EMA again. Released from US, durable goods orders rose 4.9% in January and ex-auto orders rose 1.8%. Initial jobless claims rose to 272k in the week ended February 20.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 16 10:00 GMT
EUR: The single currency met resistance just below yesterday's high of 1.1046 and has retreated, offers are noted at 1.1035, 1.1050 and 1.1080, sell orders are reported at 1.1100, 1.1120 and 1.1135, selling interest is tipped at 1.1150 and 1.1200. On the downside, bids are seen at 1.1000, 1.0985 and 1.0965, buy orders are expected at 1.0950, 1.0920 and 1.0900, buying interest should emerge around 1.0880, 1.0860 and 1.0830, mixture of bids and stops is located at 1.0800. Option expires today include: 1.0895, 1.0900, 1.1000 (over 1 bln) and 1.1150 (over 1 bln).
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Daily Report: European Majors Stay Weak in Indecisive Markets Print E-mail
Market Overview | Written by ActionForex.com | Feb 25 16 03:27 GMT
The financial markets were quite mixed and indecisive at a technical juncture. WTI dipped to as low as 30.56 after being rejected from 55 days EMA (now at 33.29) but recovered quickly back to above 32. DJIA was also rejected from 55 days EMA (now at 16585.40) and dipped to as low as 16165.86 but ended the day higher by 53.21 pts, or 0.32% at 16484.99. Similar picture was seen in S&P 500, which was rejected by 55 days EMA (now at 1944.04) and dipped to 1891.00 but closed up 8.53 pts or 0.44% at 1929.80. In Asian markets, Nikkei surged in initial trading and is trading and is trading up 120 pts for the moment. But Hong Kong HSI is dragged down by China SSE composite and both are trading down -0.9% for the moment.
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Mid-Day Report: Yen Broadly Higher on Risk Aversion, Sterling Decline Continues Print E-mail
Market Overview | Written by ActionForex.com | Feb 24 16 12:15 GMT
Risk aversion is back as the main theme in the markets followeding crude oil's retreat. European indices are trading lower in general with DAX and CAC down more than -2%. US futures also point to lower open. And, attention will be whether the rejection from 16593.51 resistance and 55 days EMA in DJIA would trigger a steep reversal. Meanwhile, WTI crude oil isheading back towards 30 after being rejected by 55 days EMA after Iran poured cold water on the production freeze agreement between Russia and some OPEC members. IN the currency markets, Brexit continues to weigh on Sterling and Euro. Yen is gathering upside momentum again on risk aversion and is taking dollar higher.
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