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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 | Jul 04 14 09:03 GMT
EUR: The single currency has fallen again in European morning after yesterday's post-NFP selloff, bids at 1.3590-00 were filled and mixture of bids and stops at 1.3560-75 is in focus, and fresh demand should emerge around 1.3540-50 and 1.3500-20 area with bigger stops placed below figure. On the upside, offers are lowered to 1.3615-25 and 1.3640-50 with stops building up above 1.3670, more sell orders are located at 1.3680 and 1.3700-10, selling interest is reported at 1.3725-35 and 1.3750-60.
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Daily Report: Dollar Strong Before Long Weekend Print E-mail
Market Overview | Written by ActionForex.com | Jul 04 14 06:20 GMT
Risk appetite was given a strong boost overnight by the strong US employment data. DOW closed 92.02 pts higher at new record high of 17068.26. S&P 500 also jumped 10.82 pts to close at new record high of 1985.44. Positive sentiments carried on in Asian session with broad based rally in equities. Meanwhile, treasury yields also jump with 30 years and 10 years yield taking out recent resistance. Dollar was bot broadly with dollar index breaking 55 days EMA, neutralizing June's bearish move. The US markets will be on holiday today and we'd likely see some consolidative trading before the week closes.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 03 14 14:54 GMT
EUR: The single currency tumbled today on much stronger-than-expected US job data, bids at 1.3600-20 area were filled, however, mixture of bids and stops is still seen at 1.3560-75 and fresh demand should emerge around 1.3530 and 1.3500-10 with bigger stops placed below figure. On the upside, offers are lowered top 1.3640-50 with stops building up above 1.3665, more sell orders are located at 1.3680 and 1.3700-10, selling interest is reported at 1.3725-35 and 1.3750-60.
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Mid-Day Report: Dollar Soars on Strong NFP, ECB on Hold Print E-mail
Market Overview | Written by ActionForex.com | Jul 03 14 12:59 GMT
Dollar was given a boost by strong employment data and extends this week's rebound in early US session. The non-farm payroll report showed 288k growth in June comparing to expectation of 210k. That's the second best reading since January 2012 and compares to April's 304k. Prior months's figure was revised up from 217k to 224k. The total number for Q2 was an impressive 816k. Unemployment dropped to 6.1% comparing to expectation of 6.3%. That's the lowest number in nearly six years. Risk markets also response positively to the data with stock futures pointing to higher open. DOW and S&P 500 might continue the record run ahead of tomorrow's Independence Day holiday.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 03 14 09:40 GMT
EUR: The single currency traded narrowly as traders await ECB rate decision later today, buy orders in good size are still noted at 1.3600-20 area, mixture of bids and stops is located at 1.3560-75. On the upside, offers are reported at 1.3670-80 and 1.3700-10, more sell orders are reported at 1.3725-35 and 1.3750-60. Option expires today include: 1.3500 (huge), 1.3550 (1 bln), 1.3570, 1.3575, 1.3600 (1 bln), 1.36055 (1 bln), 1.3630, 1.3640, 1.3650, 1.3665, 1.3685, 1.3700, 1.3750, 1.3770, 1.3795 and 1.3800.
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Daily Report: Dollar Holds Gain ahead of ECB and NFP Print E-mail
Market Overview | Written by ActionForex.com | Jul 03 14 03:57 GMT
Dollar maintains overnight's gain as markets are waiting for two important events ahead of the long weekend in US. The non-farm payroll report from US today could be market moving. Economists are expecting the report to show 210k growth in the job market in June. Unemployment is expected to be unchanged at 6.3%. The ADP private report showed a strong 281k growth in June, which is positive for the NFP. The employment component of ISM manufacturing was unchanged from prior month at 52.8. Meanwhile the four-week moving of initial claims rose slightly from 312k to 314k but the continuing claims dropped from 2.63m to 2.59m. Overall, the leading indicators for NFP suggests that we would likely have a slightly stronger than expected number today. US will also release ISM services, trade balance and jobless claims.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 14 14:36 GMT
EUR: The single currency extended intra-day fall in NY morning as ADP data came in better than expected, bids at 1.3650 were filled, however, buy orders in good size are still noted at 1.3600-20 area, mixture of bids and stops is located at 1.3560-75. On the upside, offers are lowered to 1.3670-80 and 1.3700-10, more sell orders are reported at 1.3725-35 and 1.3750-60.
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Mid-Day Report: Dollar Rebounds on Strong ADP Employment Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 14 12:47 GMT
Dollar recovers after US released solid employment data. The ADP employment report showed private sector jobs few 281k in June, much better than consensus of 205k and May's 179k. That's also the highest number since November 2012. That data provides some optimism for tomorrow's NFP release, which markets expected to show 210k growth. US stocks futures are also lifted by the data and DOW and S&P 500 would likely make new records highs today.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 14 09:03 GMT
EUR: The single currency slipped in European morning and bids at 1.3675-80 were filled, however, buy orders are still noted at 1.3650 and in good size at 1.3600-20 area, mixture of bids and stops is located at 1.3560-75. On the upside, offers are lowered to 1.3680-85 and 1.3700-10, more sell orders are reported at 1.3725-35 and 1.3750-60. Option expires today include: 1.3600, 1.3610, 1.3640, 1.3650, 1.3675 and 1.3700.
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Daily Report: Markets Blessed With Strong Risk Appetite, Dollar Broadly Lower Print E-mail
Market Overview | Written by ActionForex.com | Jul 02 14 05:05 GMT
The first trading day of the second half of the year was dominated by strong risk appetite. Both S&P 500 and DOW surged to record high overnight. S&P 500 ended the day up 13.09 pts at 1973.32. DOW was up 129.47 pts at 16956.07, after hitting 16998.70 earlier, just missing 17000 mark. Asian equities followed and were broadly higher. In the currency markets, dollar was sold off broadly and was down against all major currencies except the Japanese yen. In particular, Sterling was boosted by solid economic data and surged to the highest level against the greenback since 2008. Sterling traders will look into construction PMI to be released in European session while dollar will look into ADP employment in US session today.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 14 14:14 GMT
EUR: The single currency continued to trade with a firm bias but offers are still noted at 1.3700-05, more sell orders are reported at 1.3725-30 and 1.3750-60. On the downside, bids raised to 1.3675-80, 1.3650 and in bigger size at 1.3600-20 area, fresh demand should emerge at 1.3570-75 and 1.3545-50, more buying interest is located at 1.3520-30, followed by mixture of bids and stops at 1.3500-10.
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Mid-Day Report: Sterling Jumps on Strong PMI Points to Solid Q2 Growth Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 14 12:26 GMT
Sterling strengthens against dollar today and reaches as high as 1.7153 so far, extending recent rally. GBP/JPY also took out 174.09 near term resistance to resume the larger rise. EUR/GBP dips following broad based rally in the pound but at this momentum, it's holding above near term support of 0.7958. UK PMI manufacturing unexpectedly rose to 57.5 in June versus consensus of a fall to 56.7. That's the second highest level in over three years. Markit noted that "UK manufacturing continued to flourish in June, rounding off one of the best quarters for the sector over the past two decades." And, manufacturing is expected to expand in Q2, at a stronger pace then Q1's 1.5%. Elsewhere in Europe, Eurozone manufacturing PMI was revised slightly lower to 51.8 in June, unemployment rate was unchanged at 11.6% in May. German unemployment rose 9k in June while unemployment rate was unchanged at 6.7%. Swiss SVME PMI improved to 54.0 in June versus expectation of 52.6.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 14 08:59 GMT
EUR: The single currency maintained a firm undertone after yesterday's rally but offers are still noted at 1.3695-05, more sell orders are reported at 1.3725-30 and 1.3750-60. On the downside, bids raised to 1.3650 and in bigger size at 1.3600-20 area, fresh demand should emerge at 1.3570-75 and 1.3545-50, more buying interest is located at 1.3520-30, followed by mixture of bids and stops at 1.3500-10. Option expires today include: 1.3500, 1.3610, 1.3620, 1.3625 and 1.3640.
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Daily Report: Aussie Higher as RBA on Hold, Manufacturing Data Watched Print E-mail
Market Overview | Written by ActionForex.com | Jul 01 14 05:28 GMT
Aussie strengthens mildly after RBA left rates unchanged at 2.50% as widely expected. The central bank reiterated in the accompanying statement that "the most prudent course is likely to be a period of stability in interest rates." Regarding the economy, it expected growth to remain "a little below trend over the year ahead". Inflation is expected to "remain consistent with the target over the next one to two years, even with lower levels of the exchange rate." Overall, the accompany statement is like the carbon copy of the prior one. AUD/USD took out last week's high of 0.9446 and should head for a test on key near term resistance at 0.9460.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 14 13:44 GMT
EUR: The single currency continued to move higher and mixture of offers and stops at 1.3670-75 (stops above) is in focus, however, sell orders are still noted at 1.3690-00, sizeable selling interest is expected at 1.3690-00 with more stops tipped above 1.3705, sellers are waiting further out at 1.3725-30 and 1.3750-60. On the downside, bids remain at 1.3640 and 1.3600-10, good size buy orders remain at 1.3570-75 and 1.3545-50, more buying interest is located at 1.3520-30, followed by mixture of bids and stops at 1.3500-10.
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Mid-Day Report: Dollar Mildly Lower But Stays in Range Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 14 13:12 GMT
Dollar is mildly lower against European majors today in otherwise rather dull markets. USD/CHF's break of 0.8907 support last week was taken as a sign of weakness of the greenback. However, EUR/USD and GBP/USD are still held below near term resistance of 1.3676 and 1.7062 respectively. Thus, there is no confirmation in the selloff in dollar yet. The greenback will face tests from some important economic data in a holiday shortened week this week. And that include ISM indices as well as the non-farm payroll report. We might see dollar's decline gather some momentum should there be disappointments in the data.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 14 09:07 GMT
EUR: The single currency rose to 2-week high today and offers at 1.3650-55 were filled, however, sell orders are still noted at 1.3670-75 (stops above) and 1.3690-00, sizeable selling interest is expected at 1.3690-00 with more stops tipped above 1.3705, sellers are waiting further out at 1.3725-30 and 1.3750-60. On the downside, bids are raised to 1.640 and 1.3600-10, good size buy orders remain at 1.3570-75 and 1.3545-50, more buying interest is located at 1.3520-30, followed by mixture of bids and stops at 1.3500-10. Option expires today include: 1.3500 (large), 1.3575, 1.3595, 1.3600, 1.3620, 1.3630 and 1.3650.
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Daily Report: Euro Stays Weak ahead of Inflation Data Print E-mail
Market Overview | Written by ActionForex.com | Jun 30 14 07:38 GMT
Dollar and euro are set to be the weakest major currencies in June. Euro will first face the test from inflation data again while dollar will face tests from ISM indices and employment data later in the week. Eurozone CPI is expected to rise from 0.5% yoy to 0.6% yoy in June. Core CPI is expected to be unchanged at 0.7% yoy. Eurozone will also release M3 money supply. ECB launched a package of stimulus measures earlier this month. However, persistently low inflation reading could force ECB into quantitative easing later this year. Meanwhile, ECB executive board member Mersch said over the week end that there is "no enhanced or acute deflationary threat". He noted that what the central saw was a "longer period of very low inflation" only.
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Weekly Review and Outlook: Dollar Broadly Lower ahead of an Eventful Week Print E-mail
Market Overview | Written by ActionForex.com | Jun 28 14 10:02 GMT
Dollar was the weakest currency last week as it was hit by a string of economic indicator. New Zealand dollar was the strongest one with NZD/USD hitting a three year high of 0.8793, not far from record high of 0.8842. Canadian dollar closely followed and with USD/CAD extending recent fall to as low as 1.0664. There are also some other bearish signs seen in the greenback. USD/JPY resumed recent fall from 102.79 and is heading towards 100.65/82 key support zone. Meanwhile, USD/CHF also closed below 0.8907 support, which affirmed near term bearishness. Though, EUR/USD and GBP/USD were still stuck in established range.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jun 27 14 14:34 GMT
EUR: The single currency rebounded again ahead of weekend, however, sizeable sell orders are still noted at 1.3640-55 and 1.3670-75 (stops above), sizeable selling interest is expected at 1.3690-00 with more stops tipped above figure. On the downside, indicated good size bids remain at 1.3600-10, 1.3570-75 and 1.3545-50, more buy orders are tipped at 1.3520-30, followed by mixture of bids and stops at 1.3500-10.
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