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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 | Oct 06 15 14:21 GMT
EUR: The single currency recovered after finding support just above 1.1170 and offers at 1.1225-30 were filled, however, sell orders are still noted at 1.1250, 1.1265 and 1.1280, selling interest is tipped at 1.1300, 1.1330 and 1.1350. On the downside, bids are now seen at 1.1200-05, 1.1180-85 and 1.1155-60, buy orders are expected at 1.1135 and 1.1120, mixture of bids and stops is located at 1.1100.
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Mid-Day Report: Dollar Soft on Fed Hike Delay Speculations Print E-mail
Market Overview | Written by ActionForex.com | Oct 06 15 12:49 GMT
Dollar remains soft today as there are increasing speculations that Fed will delay first rate hike in years. Goldman Sachs said that could delay well into 2016 or even later. On the other hand, BoE might also push back the rate hike into even 2017. Both dollar and sterling are under much selling pressure against commodity currencies this week. Meanwhile, Euro is relatively firm even though there is also speculation that ECB would expand the asset purchase program.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 06 15 09:42 GMT
EUR: The single currency found support just above 1.1170 and has rebounded, however, offers are still noted at 1.1225-30 and 1.1250, sell orders are reported at 1.1265, 1.1280 and 1.1300, selling interest is tipped at 1.1330 and 1.1350. On the downside, bids are now seen at 1.1180-85 and 1.1155-60, buy orders are expected at 1.1135 and 1.1120, mixture of bids and stops is located at 1.1100.
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Daily Report: Aussie Mildly Higher on RBA Confidence Print E-mail
Market Overview | Written by ActionForex.com | Oct 06 15 07:15 GMT
Australian dollar rises mildly today as RBA kept the cash rate unchanged at 2.00% in October. The accompanying statement contained few changes, suggesting that policymakers' view on the economic outlook stayed largely the same as the previous month. The updates, however, indicated that the central bank has turned more confident over the growth outlook. It also hinted that more regulatory measures have been implemented to contain the housing price surge in Sydney, as well as Melbourne. We retain the view that the RBA would leave the monetary decision unchanged for the rest of the year.
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Mid-Day Report: Commodity Currencies Rise With Stock Rebound Print E-mail
Market Overview | Written by ActionForex.com | Oct 05 15 14:23 GMT
Commodity currencies are generally higher today on strength in global equity markets. Dollar is soft against Euro but stays in recently established range. meanwhile, Sterling, is a touch weaker than the greenback. Yen and Swiss Franc are the weakest on risk appetite as usual. Overall, we're not seeing any impressive moves in the forex markets expect in Canadian dollar. Released from US, ISM non-manufacturing composite dropped to 56.9 in September versus expectation of 58.0.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 05 15 13:48 GMT
EUR: The single currency ran into renewed selling interest at 1.1290 and has dropped again, bids at 1.1220 were filled but buy orders are still noted at 1.1200, 1.1185 and 1.1155-60, buy orders are reported at 1.1135 and 1.1120, mixture of bids and stops is located at 1.1100. On the upside, offers are now seen at 1.1245-50, 1.1280-90 and 1.1315-20 (stops above), sell orders are expected at 1.1350, 1.1380 and 1.1400.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 05 15 12:19 GMT
EUR: The single currency found buying interest just above 21.1200 and has rebounded today, offers at 1.1260 were filled but sell orders are still noted at 1.1280, 1.1300 and 1.1330, selling interest is tipped at 1.1350, 1.1380 and 1.1400. On the downside, bids are now seen at 1.1220, 1.1200 (stops below) and 1.1185, buy orders are expected at 1.1155-60, 1.1135 and 1.1120, mixture of bids and stops is located at 1.1100. Option expires today include: 1.1100, 1.1150 and 1.1200 ( near 2 bln).
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Daily Report: Dollar Mildly Lower, Sterling in Focus this Week Print E-mail
Market Overview | Written by ActionForex.com | Oct 05 15 03:20 GMT
Dollar open the week mildly lower as there is some fresh selling in response to last week's weak employment data. But weakness is still limited except versus Canadian dollar. Some analysts noted that with well contained inflation, lackluster wage growth and slowing employment growth, there is no compelling reason for Fed to hike rates in December. On the other hand, Minneapolis Fed president Narayana Kocherlakota was quoted saying that "Given the inflation outlook, given how low inflation is expected to be, to ensure the credibility of our inflation target, taking a more accommodative stance in September would have been totally justified." And, he emphasized that "this is a time to think about adding accommodation, not a time to be thinking about taking it away."
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Weekly Review and Outlook: Focus Turns to RBA, BoJ and BoE Print E-mail
Market Overview | Written by ActionForex.com | Oct 03 15 11:10 GMT
It was another disappointing week for dollar bulls with the disappointment from non-farm payroll report. However, it wasn't exactly the best kind of week for dollar bear neither. Weakness in the greenback was relatively limited after job report announcement, except versus Canadian dollar. Major dollars were indeed stuck in familiar range and the greenback closed the week just mildly down. Also, sterling was the weakest one over the week, registering losses against all other major currencies. The near term outlook in forex markets remain generally neutral in the early part of this week and we'll wait to see how traders make up their mind. Meanwhile, in other markets, stocks staged an impressive rebound on Friday which means that recent consolidations are going to continue. Gold rebounded too but stayed in recently established range. Crude oil also struggled to find the needed momentum for breakout.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 15 14:51 GMT
EUR: The single currency jumped in NY morning on dollar's broad-based weakness after NFP, offers at 1.1185, 1.1200, 1.1245, 1.1260, 1.1280 and 1.1300 were filled, however, selling interest is tipped at 1.1330 and 1.1350, more sell orders are reported at 1.1390-00 and further out at 1.1440-50. On the downside, bids are now seen at 1.1260-70 and 1.1235-40, buy orders are expected at 1.1205-10 (stops below 1.1200) and 1.1180, mixture of bids and stops is located at 1.1150, more buying interest should emerge around 1.1135, 1.1120 and 1.1100.
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Mid-Day Report: Dollar Pressured after NFP Disappointment Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 15 12:53 GMT
Dollar is notably lower in early US session after disappointment from employment data. Non-farm payrolls show 142k growth in September only, much lower than expectation of 142k. Prior month's figure was also revised sharply lower from 173k to 136k. Another disappointment was found in wage growth with average hourly earnings flat comparing with expectation of 0.2% mom. Unemployment rate was unchanged at 5.1%. Some analysts noted that the headline NFP number showed there could be knee-jerk reactions to recent market volatility. But it surely justified Fed's decision to stand pat in September. And some impressive recovery in hiring ahead is needed to secure the chance of a hike in December.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 15 08:58 GMT
EUR: The single currency retreated after meeting resistance just above 1.1200, offers are noted at 1.1185, 1.1200 and 1.1245, more sell orders are reported at 1.1260, 1.1280 and 1.1300, selling interest is tipped at 1.1330 and 1.1350. On the downside, bids are seen at 1.1155-60, 1.1135 and 1.1120, buy orders are expected at 1.1100, 1.1085 and 1.1065, buying interest should emerge around 1.1050, 1.1030 and 1.1000. Option expires today include: 1.1100 (1 bln), 1.1175, 1.1200 (large) and 1.1250.
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Daily Report: Dollar Range Bound as Non-Far Payroll Awaited Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 15 03:19 GMT
Dollar continues to stay in tight range against most major currencies as traders await employment report from US. Non-farm payroll is expected to show 200k growth in September. Unemployment rate is expected to be unchanged at 5.1% while average hourly earnings are expected to rise 0.2% mom. The pre-NFP job data were solid but unspectacular. ADP report showed decent growth of 200k in private sector jobs in August, up from prior month's 186k. Employment component of ISM manufacturing dropped to 50.5 from 51.2, hitting the lowest level since April. The four week moving average of initial jobless claims was relatively unchanged, down fro 275k to 271k. Continuing claims dropped slightly from 2.26m to 2.19m. Conference board consumer confidence, on the other hand, jumped to 103.0, highest since January. Today's NFP would likely show solid data and pave another step for Fed's rate hike in December.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 15 14:35 GMT
EUR: The single currency has rebounded in part due to soft US data, offers at 1.1170, 1.1185 and 1.1200 were filled but sell orders are still noted at 1.1220, 1.1245 and 1.1260, selling interest should emerge around 1.1280 and 1.1300. On the downside, bids are now seen at 1.1155-65, 1.1135 and 1.1120, buying interest is tipped at 1.1100-05, 1.1085 (stops below) and 1.1065, fresh demand is located at 1.1050, 1.1030 and 1.1000.
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Mid-Day Report: Dollar Lower as Trader Turns Cautious ahead of NFP Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 15 14:11 GMT
Commodity currencies are generally higher today while the greenback is broadly lower without a clear reason. Traders seemed to be getting a bit more cautious ahead of tomorrow's non-farm payroll report from US and are lightening up the positions. Released from US, ISM manufacturing index dropped to 50.2 in September versus expectation of 51.0. Construction spending rose 0.7% mom in August. Initial jobless claims rose 10k to 277k in the week ended September 26, higher than expectation of 273k. The 4-week moving average dropped 1k to 270.75k hitting the lowest level since 1973. Also, note that the initial claims have been below 300k for the 30 straight week, which was the longest streak since also 1973. Continuing claims dropped 53k to 2.19m in the week ended September 19, the lowest since November 2000. Challenger job cuts rose 93.2% yoy in September.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 15 13:15 GMT
EUR: The single currency remained under pressure and bids at 1.1150 were filled but buy orders are still noted at 1.1135, 1.1120 and 1.1100, buying interest is tipped at 1.1085, 1.1065 and 1.1050, fresh demand is located at 1.1030 and 1.1000. On the upside, offers are lowered to 1.1170, 1.1185 and 1.1200, sell orders are expected at 1.1220, 1.1245 and 1.1260, selling interest should emerge around 1.1280 and 1.1300. Option expires today include: 1.1160 (large), 1.1265 (large), 1.1270 (large), 1.1295 (large) and 1.1300 (large).
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Daily Report: Yen and Nikkei Shrugged Off Weak Tankan Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 15 03:20 GMT
Japanese markets rebounds strongly today, following US and shrugging off the quarterly Tankan survey. At the time of writing Nikkei is trading over 300pts up, or 1.7%. That followed the rebound in US overnight where DJIA closed up 235.57 pts or 1.47%. S&P 500 closed reclaimed 1900 handle and closed up 35.94 pts, or 1.91%. Yen is staying in range again other major currencies in general. The Tankan large manufacturers index dropped more than expected by 3 pts to 12 in Q3 while the outlook gauge dropped 6 pts to 10. The non-manufacturing index, on the other hand rose 2 pts to 25 and beat expectation while outlook gauge dropped to 9. All industry capex showed 10.9% growth during the period. Some economists noted that the Q3 survey showed general pessimistic sentiment but there are still some hopes from construction spending. Some expected the government to push BoJ harder for expanding monetary easing.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 30 15 14:22 GMT
EUR: The single currency slipped today in European session, offers are lowered to 1.1225, 1.1245 and 1.1260-65, more sell orders are reported at 1.1280, 1.1295-00 and 1.1325-30, selling interest is tipped at 1.1350, 1.1380-85 and 1.1400. On the downside, bids at 1.1200 and 1.1180 were filled but buy orders are still seen at 1.1150, 1.1135 and 1.1120, buying interest should emerge around 1.1100, 1.1085 and 1.1065, fresh demand is located at 1.1050, 1.1030 and 1.1000.
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Mid-Day Report: Dollar Mildly Firmer after ADP, Eurozone Back in Deflation Print E-mail
Market Overview | Written by ActionForex.com | Sep 30 15 12:42 GMT
Dollar is mildly firm against Euro in early US session. ADP report showed private sector jobs grew 200k in September, above expectation f 185k. Prior month's figure was revised down from 190k to 186k. Euro on the other hand, was weighed down by a batch of weak data. Nonetheless, EUR/USD is staying tight range above 1.1104 and more consolidation would still be seen. The focus will turn to Fed chair Janet Yellen's speech later today and other economic data from US for the rest of the week. Also released in early US session, Canada GDP rose 0.3% mom in July versus expectation of 0.2% mom.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 30 15 09:40 GMT
EUR: The single currency remained confined within familiar range and offers are noted at 1.1245, 1.1260 and 1.1280, more sell orders are reported at 1.1300, 1.1325-30 and 1.1350, selling interest is tipped at 1.1380-85 and 1.1400. On the downside, bids are seen at 1.1200, 1.1180 and 1.1150, buy orders are expected 1.1135, 1.1120 and 1.1100, buying interest should emerge around 1.1085, 1.1065 and 1.1050, fresh demand is located at 1.1030 and 1.1000. Option expires today include: 1.1100 (1 bln), 1.1200 (large), 1.1210 (large) and 1.1230.
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