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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.



European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 13 13 08:54 GMT
EUR: The single currency met indicated offers at 1.3325 and retreated again from there, suggesting further consolidation is in store, however, bids remain at 1.3250-60, more buying interest is seen at 1.3240 (stops below) and from 1.3230 down to 1.3200 (more stops below figure), sizeable bids are expected at 1.3165-75 and further out at 1.3140-50. On the upside, offers are lowered to 1.3300-10 and 1.3325-30 with stops building up above there, more sell orders are expected at 1.3340-50 (some stops above) and 1.3370-80 as well as 1.3400. Option expires today include: 1.3150, 1.3200, 1.3250, 1.3300, 1.3310 and 1.3350.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 12 13 14:45 GMT
GBP: Cable also found support at 1.5776 and has rebounded in New York morning and offers at 1.5825 were filled, however, offers are still seen at 1.5835-50 area and more selling interest is expected at 1.5870-80, 1.5900 as well as 1.5920. On the downside, bids are still noted at 1.5775, 1.5750-60 and further out at 1.5720, some stops are placed below 1.5710-15 but fresh demand should emerge around 1.5700, followed by mixture of bids and stops at 1.5680-85.
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Mid-Day Report: Dollar Mildly Higher after Job Data Print E-mail
Market Overview | Written by ActionForex.com | Sep 12 13 13:04 GMT
Dollar is mildly higher in early US session after data showed initial jobless claims dropped more than expected to 292k in the week ended September 7, hitting the lowest level since April 2006. As two US states upgraded computer systems during that period, employment agencies reported fewer claims applications. And that's believed to have played a role in the drop in claims. Nonetheless, the data series did show further sign that US job market is continuously improving. Continuing claims dropped -75k to 2.87m in the week ended August 11. Also released, US import price was flat mom in August. Canadian new housing price index rose 0.2% mom in July.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 12 13 09:46 GMT
EUR: The single currency continued to run into heavy offers at indicated offers at 1.3325 and has retreated this morning in Asia and bids at 1.3300 were filled, however, buy orders are still noted at 1.3290, 1.3275-80 and also at 1.3250, more buying interest is seen at 1.3240 (stops below) and from 1.3230 down to 1.3200 (more stops below figure), sizeable bids are expected at 1.3175 and further out at 1.3140-50. On the upside, offers remain at 1.3325-30 with stops building up above there, more sell orders are expected at 1.3340-50 (some stops above) and 1.3370-80 as well as 1.3400. Option expires today include: 1.3100, 1.3200, 1.3275 and 1.3290.
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Daily Report: Kiwi Jumps on RBNZ, Aussie Tumbles on Job Print E-mail
Market Overview | Written by ActionForex.com | Sep 12 13 05:19 GMT
New Zealand dollar soars in Asian session after RBNZ left rates unchanged at 2.50% as widely expected. More importantly, the central bank indicated that a rate hike would likely be required in 2014 as inflation picks up. The comment had the effect of sending the NZD higher although the Governor reiterated his warning that the exchange rate has remained elevated and this might be detrimental to exports. The RBNZ has also revised the 3-month yield to 3% in 2Q14 from previous estimate of 2.6%. The revision suggested that the policy rate might rise in 1Q14, instead of 2Q14 as suggested in June.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 11 13 14:51 GMT
GBP: The British pound retreated after intra-day rally to 1.5827 in London morning, more sell orders are still seen at 1.5840-50 with some stops expected above there, fresh offers should emerge around 1.5890-00. On the downside, bids at 1.5760 were filled but buy orders are still noted at 1.5755 and in good size at 1.5735-40, more buy orders are expected at 1.5715, 1.5700 and 1.5680-85 with stops tipped below all three levels, more buying interest is seen at 1.5650, 1.5630 as well as 1.5600.
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Mid-Day Report: Sterling Shines as Unemployment Unexpectedly Fell to 7.7% Print E-mail
Market Overview | Written by ActionForex.com | Sep 11 13 13:17 GMT
Sterling soars today and took out an important resistance at 1.5751 against dollar on better than expected job data. The claimant count dropped more than expected at -32.6k in August versus expectation of -21.2k. Unemployment rate also unexpectedly dropped to 7.7% in July. BoE said before that 7% employment level is the threshold for the central bank to raise interest rates and it forecast the level won't be reached before 2016. Recent solid economic data from UK, including today's job data, raised optimism that UK would be getting ahead of schedule in recovery and raised the chance that BoE would start removing policy stimulus earlier than expected.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 11 13 08:58 GMT
EUR: Although the single currency edged higher to 1.3282 (1 tick above Monday's high), euro continued to run into strong resistance there and sell orders are still noted at 1.3280-85 as well as 1.3300-10, more sell orders are located at 1.3325 and further out at 1.3340-50. On the downside, bids in good size are seen at 1.3240-45 and also in the region of 1.3215-30, more buy orders are expected at 1.3200, 1.3175 and further out at 1.3140-50. Option expires today include: 1.3100, 1.3215, 1.3250 and 1.3350.
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Daily Report: Sentiments Continued to Improve on Syria Print E-mail
Market Overview | Written by ActionForex.com | Sep 11 13 03:18 GMT
US equities rebounded for another day as President Obama announced to put the push to strike against Syria on hold. The game changer was Russian's proposal to transfer the control of Bashar al-Assad's government's chemical weapons. France said yesterday that it will submit a proposal to UNSC and it's reported that Assad had accepted the proposal to avoid military strike against the government. DOW rose 127.94 pts to close at 15191.05, above 55 days EMA decisively, which affirmed the case of near term reversal. Dollar was soft against European majors but is staying in tight range. Commodity currencies, in particular Aussie, remain the strongest currencies this week. Meanwhile, yen remains the weakest currency this week on risk rally.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 10 13 13:59 GMT
EUR: Despite intra-day retreat to 1.3230, the single currency has rebounded in New York opening after holding above indicated bids at 1.3225, more buy orders are reported at 1.3200-10 and 1.3175, buying interest is likely to emerge around 1.3140-50, 1.3125 and also in good size at 1.3100-10 with stops placed below 1.3100. On the upside, sell orders remain around 1.3275-85 and also from 1.3300 up to 1.3320 (more stops above 1.3325), more selling interest is tipped at 1.3350.
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Mid-Day Report: Commodity Currencies Jump on Easing Syria Concern and China Outlook Print E-mail
Market Overview | Written by ActionForex.com | Sep 10 13 12:56 GMT
Commodity currencies remain the strongest one this week, tracking higher equity markets on reduced worry over Syria and solid Chinese data. Yen took out near term support against other currencies on risk appetite. Major European indices opened higher today and extends gains in early US session with DAX climbing nearly 2%. US futures also point to a strong opening. It's reported that France will propose a UNSC resolution, backed by Russia, to transfer the control of Syria's chemical weapons. Russian foreign minister Lavrov welcomed the proposal and hoped to present the plan to UNSC in the near future. It's also reported that the plan got backing from China, who with Russia, have blocked sanctions against Syria during the civil war. And, It's also reported that Syrian Assad's government accepted the proposal too.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 10 13 09:11 GMT
EUR: The single currency rallied yesterday, stops at 1.3225-30 together with offers at 1.3240-60 were cleared, however, sell orders are reported around 1.3275-85 and also from 1.3300 up to 1.3320 (more stops above 1.3325), more selling interest is tipped at 1.3350. On the downside, bids at 1.3250 were filled and buy orders are expected at 1.3225, 1.3200-10 and 1.3175, more buying interest is likely to emerge around 1.3140-50, 1.3125 and also in good size at 1.3100-10 with stops placed below 1.3100. Option expires today include: 1.3210, 1.3215, 1.3250 and 1.3300.
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Daily Report: Stocks Rebounded on Russian's Syria Proposal, Dollar Soft Print E-mail
Market Overview | Written by ActionForex.com | Sep 10 13 03:06 GMT
Dollar weakened overnight with dollar index dipping back below 82 level while US stocks extended recovery with DOW back above 15000 level to close at 15063.12. Regarding the situation in Syria, Russian Foreign Minister Lavrov said after meeting with Syrian officials in Moscow that "if the establishment of international control of chemical weapons in the country will help avoid military strikes, we will immediately start working with Damascus." US President Obama responded saying that it's "certainly a positive development" for Russians and Syrians to deal with chemical weapons and pledged to "absolutely" put off a punitive strike if Syrian leader Assad gave up the chemical weapons. Meanwhile, Obama said that "if we can exhaust these diplomatic efforts and come up with a formula that gives the international community a verifiable, enforceable mechanism to deal with these chemical weapons in Syria, then I'm all for it."
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 09 13 14:03 GMT
EUR: The single currency rose again since European session and offers in the region of 1.3190-1.3210 were filled, mixture of offers and stops at 1.3225-30 is in focus, however, fresh sell orders should emerge from 1.3240 up to 1.3260 with stops building up above latter level, more offers are expected around 1.3280 and also from 1.3300 up to 1.3320 (more stops above). On the downside, bids are raised to 1.3185-90 and 1.3140-60 area, buy orders are lined up at 1.3125 and also in good size at 1.3100-10 with stops placed below 1.3100, more bids are tipped at 1.3080 and 1.3065, option defensive bids are expected above 1.3050 barrier.
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Mid-Day Report: Dollar Lower on Syria, Markets Steady Elsewhere Print E-mail
Market Overview | Written by ActionForex.com | Sep 09 13 13:09 GMT
Dollar weakens mildly today as US President is set to interview with media and deliver a speech tomorrow to secure public support for a strike against Syria. Some report noted that Congress approval for the strike is still an uncertainty. And, traders are getting a bit cautious ahead of the decision. Markets are relatively steady elsewhere. Yen weakened in early trading this week but quickly recovered. Data from Eurozone was positive but provided little support the common currency in crosses. Meanwhile, Canadian dollar strengthened after data showed building permits rose stronger than expected by 20.7% mom in July.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 09 13 08:19 GMT
EUR: The single currency traded narrowly after staging a post-NFP rebound from 1.3105 on Friday, offers at 1.3185 were filled, however, selling interest is still seen from 1.3190 up to 1.3210, mixture of offers and stops is located at 1.3225-30, fresh sell orders should emerge from 1.3240 up to 1.3260 with stops building up above latter level, more offers are expected around 1.3280 and also from 1.3300 up to 1.3320 (more stops above). On the downside, bids are raised to 1.3140-60 area, buy orders are lined up at 1.3125 and also in good size at 1.3100-10 with stops placed below 1.3100, more bids are tipped at 1.3080 and 1.3065, option defensive bids are expected above 1.3050 barrier. Option expires today include: 1.2900, 1.3050, 1.3100, 1.3110, 1.3120, 1.3200, 1.3245 and 1.3250.
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Daily Report: Yen Opens Lower after Olympic Win Print E-mail
Market Overview | Written by ActionForex.com | Sep 09 13 04:14 GMT
Yen drops broadly while Nikkei jumps as much as 280 pts in initial trading in reaction to Japan's win to host 2020 Olympic. Prime minister Abe said that hosting the Olympics and Paralympics will have "good effects on a wide range of areas such as infrastructure and tourism". The games are expected to give an additional 0.3% of GDP to the Japanese economy according to the government. But some analysts noted that the impact should be larger and would add around 0.7% to 0.8% of GDP similar to UK. Data released in Japan saw Q2 GDP revised higher and finalized at 0.9% qoq but missed expectation of 1.0%. GDP price index was revised lower to -0.5% yoy.
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Weekly Review and Outlook: Fed September Tapering Still Expected after NFP Jitters, Commodity Currencies Shone Print E-mail
Market Overview | Written by ActionForex.com | Sep 07 13 07:31 GMT
A string of solid economic data from US originally prepared markets for Fed's tapering later this month but the expectation suffered a mild setback after the disappointing non-farm payroll report. While the NFP triggered some jitters, judging from there price actions, markets are not pricing out September tapering. DOW attempted a recovery to 15009.84 but failed to sustain above 15000 level and closed at 14922.50. It's basically engaging in sideway consolidation and the near term outlook stays bearish. 10 year yield rose to new high at 2.984%, just shy of 3% mark. Friday's retreat was relatively shallow as TNX managed to close the week at 2.938%. Dollar index retreated after hitting 82.67 but managed to close above 55 days EMA at 82. In the currency markets, dollar was sharply lower against commodity currencies last week, and to a lesser extent the yen. But the retreat on Friday against euro and Swiss Franc was relatively shallow.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 06 13 14:22 GMT
JPY: Dollar tumbled against the Japanese yen, bids at 99.50, 99.35 and 99.00 were filled, stops below 98.80 were also triggered, combination of bids and stops at 98.45-50 is now within range but buy orders are tipped at 98.20 and 98.00 with more stops placed below 97.80. On the upside, offers are now seen at 99.25-30 and 99.50, more sell orders are expected at 99.75-80 and 99.95-100.00 with some buy stop orders tipped above figure and 100.25.
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Mid-Day Report: Dollar Tumbles after NFP Print E-mail
Market Overview | Written by ActionForex.com | Sep 06 13 12:49 GMT
Dollar drops sharply in early US session on disappointing employment data. The non-farm payroll report showed 169k growth in August, slightly below expectation of 173k. However, July's figure was revised sharply lower from 162k to 104k. Unemployment rate, on the other hand, dropped fro 7.4% to 7.3%. The data raised some question on whether Fed would really taper the asset purchase in this month's FOMC meeting. Dollar is early lower against most major currencies, in particular against Canadian dollar. Stock futures rose sharply and point to a higher opening. Treasure yield, on the other hand, pares back some of yesterday's gains.
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