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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 | Jun 06 13 08:59 GMT
EUR: The single currency has moved higher again on stop-hunting, offers at 1.3125-30 and stops above there were cleared, however, more sell orders in good size are noted at 1.3140-50 (barrier) and further out at 1.3190-00 with bigger stops building up above next barrier at 1.3200, some offers are reported ahead of this level and also at 1.3240. On the downside, bids are raised to 1.3075-90 with stops building up below 1.3070, more buying interest should emerge around 1.3050 with stops remain below 1.3040 but fresh demand is seen at 1.3015 and 1.3000, more buy orders are tipped around 1.2975-85 and further out at 1.2940-50 with sizeable stops placed below 1.2930-40. Option expires today include: 1.2850, 1.2900, 1.2950, 1.3000, 1.3050, 1.3100, 1.3110, 1.3115 and 1.3125.
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Daily Report: Aussie Dives Following Trade Balance, ECB Awaited Print E-mail
Market Overview | Written by ActionForex.com | Jun 06 13 04:15 GMT
Asian equities are broadly lower today, following the sharp -217 pts fall in DOW overnight, which was the second largest this year. While the economic data released from US were mixed, it's believed that the sharp fall was not triggered by a single piece of data. Instead, it's a recent change in sentiments in the market. On the one hand, there were increasing speculations that Fed would start tapering the asset purchase later this year. On the other hand, there were concerns that US economy is not strong enough yet. Also, investors turned cautious ahead of Friday's non-farm payroll report, which might follow the ADP data and disappoint. In the currency markets, though, dollar remains steady in range even though it's soft against European majors.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by Administrator | Jun 05 13 14:27 GMT
EUR: Although the single currency jumped again on weaker-than-expected US ADP data, euro ran into indicated offers at 1.3120 and has retreated again. At the moment, offers remain at 1.3120 with stops remain above there, more sell orders are noted at 1.3140-50 (barrier) and further out at 1.3190-00 with bigger stops building up above next barrier at 1.3200. On the downside, bids are still noted at 1.3050-60 with stops remain below 1.3040 but fresh demand should emerge around 1.3015 and 1.3000, more buying interest should emerge around 1.2975-85 and further out at 1.2940-50 with sizeable stops placed below 1.2930-40.
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Mid-Day Report: Dollar Steady after Mixed Data Print E-mail
Market Overview | Written by ActionForex.com | Jun 05 13 14:13 GMT
Dollar is steady in early US session after mixed economic data. ISM non-manufacturing index improved more than expected to 53.7 in May. ADP employment report release earlier was a disappointment. It showed merely 135k growth in private sector jobs comparing to expectation of 170k. However, the ADP number had been quite different from NFP in the past few months and markets seem not to take today's number too seriously. Economists are expecting NFP to show 168k job growth in May. Other data from US saw factory orders rose 1.0% in April. Non-farm productivity was revised down to 0.5% in Q1 with unit labor costs down -4.3%. Canadian building permits rose 10.50% mom in April.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 05 13 08:33 GMT
GBP: Despite retreating initially in London morning, the British pound found good support just above 1.5300 and has rebounded again, however, offers are still noted at 1.5340-50 as well as 1.5375-80 with some stops expected above latter level but more selling interest should emerge further out at 1.5400 as well as 1.5420. On the downside, decent demand (option related) remain from 1.5310 down to 1.5290, some stops are tipped below 1.5290 and 1.5270 but more buy orders are noted at 1.5250-55 with some stops placed below 1.5230-35, fresh demand should emerge around 1.5190-00 with some stops building up below 1.5190. Option expires today include: 1.5000, 1.5060, 1.5150, 1.5225 and 1.5300 (large).
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Daily Report: Dollar Mixed ahead of ADP and ISM Services Print E-mail
Market Overview | Written by ActionForex.com | Jun 05 13 03:39 GMT
Dollar is mixed as markets are awaiting employment and services data today. Expectation on the timing of Fed's policy exit will continue to be adjusted based on incoming economic data. Dallas Fed Fisher said that there was a "practical limit" to the size of Fed's balance sheet and there wouldn't be "QE infinity". He also noted that housing market is "in a good state", construction has started again and house prices are "appreciating significantly". And it would be "prudent to dial back the rate of purchases" in MBS. Kansas City Fed George said she supported slowing the pace of asset purchase as the "appropriate next step for monetary policy". She noted that "adjustments today can take a measured pace as the economy's progress unfolds."
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 04 13 14:37 GMT
EUR: The single currency slipped again in European session after faltering below yesterday's high of 1.3108 and bids 1.3045-50 were filled, stops below 1.3040 are now in focus but fresh demand should emerge around 1.3020 and 1.3000, more buying interest should emerge around 1.2970 and further out at 1.2940-50 with sizeable stops placed below 1.2930-40. On the upside, offers are noted at 1.3075-80 and selling interest is still seen at 1.3100 and also in good size at 1.3125-30, more sell orders are tipped at 1.3150 (barrier) and further out at 1.3190-00 with bigger stops building up above next barrier at 1.3200.
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Mid-Day Report: Yen Weakens as Consolidation Continues Print E-mail
Market Overview | Written by ActionForex.com | Jun 04 13 12:47 GMT
Yen weakens again today with USD/JPY back above 100 level after dipping to 98.85 earlier this week as consolidative trading continues. EUR/JPY and GBP/JPY also recover and is back above 131 and 153 respectively. Dollar also pared some of the post ISM manufacturing losses. While the manufacturing data disappoint, the ISM services data and non-farm payroll to be released later this week are more important. In particular, employment data will be important for Fed to determine when to taper its asset purchase. Atlanta Fed Lockhart was quoted saying that the markets are seeing "mixed messages" which reflects the debate among FOMC members.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 04 13 11:38 GMT
EUR: The single currency found renewed buying interest just above 1.3050 in Asia and has rebounded again in European morning, however, offers are still noted at 1.3100 and also in good size at 1.3125-30, more selling interest is tipped at 1.3150 (barrier) and further out at 1.3190-00 with bigger stops building up above next barrier at 1.3200. On the downside, bids remain at 1.3050 with some stops placed below 1.3040 but fresh demand should emerge around 1.3020 and 1.3000, more buying interest should emerge around 1.2970 and further out at 1.2940-50 with sizeable stops placed below 1.2930-40. Option expires today include: 1.2850, 1.2950, 1.2960, 1.3000, 1.3050, 1.3075 and 1.3105.
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Daily Report: Dollar Recovered after Selloff, RBA on Hold Print E-mail
Market Overview | Written by ActionForex.com | Jun 04 13 06:40 GMT
Dollar weakened overnight as weaker than expected economic data cooled speculation that Fed is going to scale back stimulus soon. USD/JPY breached 99 handle as yen also strengthened broadly. Nonetheless, markets reversed some of the overnight moves in Asian session today with USD/JPY back trading above 100 level at the time of writing. In other markets, Asian equities are mixed even though DOW surged 138 pts overnight. US 10 year yield dropped sharply but was supported above 2% level and recovered back to close at 2.134%. Overall, markets are rather mixed for the moment and would look into the key economic data from US later this week for inspirations.
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Mid-Day Report: USD/JPY Dives after Contraction Reading in ISM Manufacturing Print E-mail
Market Overview | Written by ActionForex.com | Jun 03 13 14:36 GMT
Dollar falls against the Japanese yen in early US session after release of weaker than expected economic data. The ISM manufacturing index unexpectedly dropped 49.0 in May and that was the first contraction reading since last November. Most components dropped including production, and new orders except inventories. The employment component also dropped slightly to 50.1 suggesting it's bare break even. USD/JPY drops through a near term support level at 99.94 and suggests more downside in near term. Meanwhile, the fall in USD/JPY also drags down EUR/JPY through 129.95 support.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 03 13 14:34 GMT
JPY: Dollar slipped again in New York morning session and stops below 99.95-100.00 were finally tripped, however, some bids are still noted at 99.55-65 with more stops expected below 99.50, fresh demand is likely to emerge around 99.20-30 and 99.00 (bigger stops placed below 98.80-90). On the upside, offers are now seen at 100.00-10 and also in good size at 100.40-50 with stops building up above latter level, mixture of offers and stops is located at 100.70-80 but more sizeable sell orders are expected at 101.00 and 101.20-30, more selling interest should emerge around 101.50 and further out at 101.80 (stops above there expected).
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 03 13 08:34 GMT
EUR: The single currency staged a strong rebound today since Asian opening and offers at 1.3020-30 were filled, however, sell orders in good size are still noted at 1.3050-60 with stops remain above 1.3065 but more offers are reported at 1.3070-80, followed by mixture of offers and stops at 1.3100-10, however, bigger sell orders are tipped at 1.3120-30, 1.3150 and further out at 1.3190-00. On the downside, bids are raised to 1.3000-10 and also at 11.2970, mixtures of bids and stops located at 1.2930-40 and further out at 1.2900-10. Option expires today include: 1.2800, 1.2845, 1.2940, 1.3000, 1.3005, 1.3050 and 1.3085.
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Daily Report: Markets Stay in Range ahead of Manufacturing Data Print E-mail
Market Overview | Written by ActionForex.com | Jun 03 13 03:40 GMT
Asian equities opened the week broadly lower, following the late selloff in DOW last week. Nikkei is dropping over -200 pts at the time of writing. Better than expected Chinese manufacturing data released over the weekend provided little support to sentiments so far. In currency markets, most pairs are staying in range for the moment. The question of when Fed will scale back the asset purchase will remain a major theme in the market this week. And a number of important economic data from US will likely drive some volatilities in the markets. Those data to watch include ISM manufacturing today, ISM services on Wednesday and Non-farm payroll on Friday. Meanwhile, RBA rate decision on Tuesday, ECB and BoE on Thursday will also be watched.
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Weekly Review and Outlook: Stocks Tumbled, Yield Jumped, Dollar Consolidated ahead of Important Data Print E-mail
Market Overview | Written by ActionForex.com | Jun 01 13 10:41 GMT
Speculation of the timing when Fed will taper the asset purchase program remained a main theme in the markets. US equities' rally attempt was limited below prior week's high. DOW and S&P 500 indeed suffered steep selloff towards the end of the week. DOW close the week at its weekly low at 15115.57, down 188 pts. S&P 500 also closed at the weekly low at 1630.7, down 19 pts. Treasury yield extended recent rally with 30 year yield rose to 3.308% and 10 year yield up to 2.164%, both making new 2013 high. In commodities, gold jumped back above 1400 level but failed to sustain above there and closed at 1388. Crude oil, on the other hand, dropped sharply to close at 91.61.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | May 31 13 14:16 GMT
EUR: The single currency retreated quite sharply in European session, bids at 1.3000-10 and 1.2980 were filled, however, more buying interest from various names should emerge around 1.2950 with mixtures of bids and stops located at 1.2930-35 and further out at 1.2900-10. On the upside, selling interest is lowered to 1.3015-20 and also in good size at 1.3045-55 with some stops building up above 1.3065-70 but fresh offers should emerge around 1.3080 as well as 1.3100 with more stops expected above 1.3110, bigger sell orders are tipped at 1.3120-30, 1.3150 and further out at 1.3190-00.
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Mid-Day Report: Dollar Pared Gains after Weak Economic Data Print E-mail
Market Overview | Written by ActionForex.com | May 31 13 12:46 GMT
Dollar tried to recover earlier today but pared some gains after release of weaker than expected data. Personal income was flat in April comparing to expectation of 0.1% rise. Spending even dropped -0.3% comparing to 0.0% expectation. Headline PCE deflator moderated more than expected to 0.7% yoy. Core PCE was unchanged at 1.1% qoq. Meanwhile, Canadian GDP rose more than expected by 0.2% mom in March. US stock futures point to mildly lower opening while European indices are staying at negative territory.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | May 31 13 09:43 GMT
EUR: The single currency eased after yesterday's rally to 1.3062 and bids at 1.3020-30 were filled, however, more buy orders are still noted at 1.3000-10 and also at 1.2980, more buying interest from various names should emerge around 1.2980 as well as 1.2950 with mixtures of bids and stops located at 1.2930-35 and further out at 1.2900-10. On the upside, selling interest is reported from 1.3060 up to 1.3080 and also around 1.3100 area with more stops expected above 1.3110 but fresh offers are tipped at 1.3120-30, 1.3150 and further out at 1.3190-00. Option expires today include: 1.2810, 1.2925, 1.2950, 1.3000, 1.3050 and 1.3100.
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Daily Report: Yen in Range after Inflation Data Print E-mail
Market Overview | Written by ActionForex.com | May 31 13 07:17 GMT
Yen stays in tight range today after release of a bunch of data. The inflation outlook showed improvement in Japan, as indicated in the April CPI data. Deflation improved slightly with core CPI falling -0.4% yoy, easing from a -0.5% yoy decline in March. CPI excluding food and energy added 0.3% mom. Overall CPI slipped -0.7% yoy, following a -0.9% drop previously. The improvement was driven by a lesser drop in fresh food prices which fell -7.9% following a -11.5% decline in the prior month. The May Tokyo CPI, the leading indicator of Japan's inflation, showed a 0.1% yoy rise (or 0.3% mom) in core CPI.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | May 30 13 14:31 GMT
EUR: The single currency surged again in New York morning on disappointing U.S. data, stops above 1.3000 barrier and 1.3010 as well as 1.3030 were triggered, some sell orders at 1.3050 were executed, however, selling interest is still seen further out around 1.3085-1.3100 area with more stops expected above 1.3110. On the downside, bids are now seen at 1.3020-25 and also in good size at 1.2990-00, mixture of bids and stops is now seen at 1.2970-75 with bigger stops building up below 1.2930-40 and also 1.2900-10.
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