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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 | Sep 08 15 14:33 GMT
GBP: Cable eased after rising to 1.5413, offers are still noted at 1.5415-20, 1.5450, more selling interest is tipped at 1.5500-10 and 1.5550. On the downside, bids remain at 1.5350, 1.5320-30 and 1.5300, more buy orders are expected at 1.5250, 1.5220 and 1.5200 (stops below), buying interest should emerge around 1.5160-65 (stops below 1.5150).
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Mid-Day Report: China Rebound Led Global Stocks Higher, Sterling and Aussie Up Print E-mail
Market Overview | Written by ActionForex.com | Sep 08 15 13:12 GMT
Late rebound in China's stock markets led global equities generally higher today. The Shanghai composite index once lost as much as -2.3% during the session but reversed to close 2.9% higher at 3170.45. That also the first rise in five days. European indices follow with DAX up 2.3%, CAC up 1.9% and FTSE up 1.6% at the time of writing. Meanwhile, US futures also point to a rebound today and DJIA may head back to 16300 handle in initial trading. In the currency markets, major pairs and crosses are reversing recent moves. In particular, some strength is seen in Aussie, Kiwi and Sterling while weakness is seen in Yen and Swiss Franc.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 08 15 10:46 GMT
EUR: The single currency ran into selling interest at 1.1230 and has retreated in European morning, bids at 1.1180 were filled but buy orders are still noted at 1.1150, 1.1120 and 1.1100, buying interest is tipped at 1.1070 and 1.1050. On the upside, offers remain at 1.1230 (stops above) and 1.1270, sell orders are expected at 1.1300 and 1.1320. Option expires today include: 1.1000 (large), 1.1010, 1.1100 (near 1 bln), 1.1110, 1.1245, 1.1250, 1.1270, 1.1390, 1.1410 and 1.1415.
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Daily Report: Euro and Dollar Lower in Quiet Markets Print E-mail
Market Overview | Written by ActionForex.com | Sep 08 15 04:48 GMT
Euro and dollar are generally lower this week so far on dull holiday trading. Volatility would increase as US will be back from holiday today. Asian markets are mixed after release of a batch of economic data. Data from China showed worsening in foreign trade again in August. Both exports and imports contracted more than expected and raised much doubt on the health of the economy. Exports dropped -6.1% yoy while imports dropped -14.3% yoy. Overall trade contracted -9.7% yoy. Trade surplus widened to USD 57.8b. PBoC said yesterday that the country's foreign exchange reserves dropped USD -93.9b in August to USD 3.56T. It's reported that capital outflow was a big concern while the central bank intervened in the markets to shore up the yuan and prevent capital outflow.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 07 15 14:22 GMT
EUR: The single currency remained confined in familiar range and further consolidation is in store, offers are still noted at 1.1180-85 and 1.1200, sell orders are reported at 1.1225 and 1.1250 (stops above), selling interest is tipped at 1.1280 and 1.1300. On the downside, bids are now seen at 1.1120 and 1.1090-00, more buy orders are expected at 1.1050-60 and 1.1020-25, buying interest should emerge around 1.0990-00 (stops below 1.0980).
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 07 15 10:25 GMT
EUR: The single currency continued to trade narrowly after falling to 1.1087 last week and further consolidation is in store, offers are still noted at 1.1180-85 and 1.1200, sell orders are reported at 1.1225 and 1.1250 (stops above), selling interest is tipped at 1.1280 and 1.1300. On the downside, bids are now seen at 1.1120 and 1.1090-00, more buy orders are expected at 1.1050-60 and 1.1020-25, buying interest should emerge around 1.0990-00 (stops below 1.0980). Option expires today include: 1.0900 (large), 1.0985, 1.1000, 1.1050, 1.1075 (large), 1.1100 (over 1 bln), 1.1115, 1.1130 (large), 1.1160, 1.1250 and 1.1300.
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Daily Report: Markets Steady as Focus Turns to Three Central Bank Meetings Print E-mail
Market Overview | Written by ActionForex.com | Sep 07 15 08:47 GMT
The forex markets opened the week in rather steady manner and major pairs and crosses are generally stuck in tight range. US and Canada are on holidays today and trading could remain subdued. Economic data released today triggered little reactions in the markets. Japan leading index dropped to 104.9 in July. German industrial production rose 0.7% mom in July. Eurozone Sentix investor confidence dropped to 13.6 in September. Swiss foreign currency reserves rose to CHF 540b in August. The US economic calendar is light this week and the greenback would likely stay firm as markets await FOMC rate decision next week. Focus will but turned to other countries as there will be three major central bank meetings scheduled, including BoC, RBNZ and BoE.
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Weekly Review and Outlook: Focus Turns to Sterling Weakness and BoE Print E-mail
Market Overview | Written by ActionForex.com | Sep 05 15 14:59 GMT
Despite some mixed economic data, dollar ended the week as the second strongest major currency, next to yen. Markets seem now believe that barring further turmoils in the financial markets, Fed is still on schedule to hike interest rate this year. September still remains unlikely but chances are for a hike in October. And the expectation is supported by an overall well received non-farm payroll report. Despite the miss in headline job growth number, fall in unemployment rate and acceleration in wage growth were seen as positive. Also, comments from Fed officials were supportive to such expectations. Australian dollar and New Zealand dollar remained the weakest ones. Canadian dollar was firm as WTI crude oil maintained gains and steadied around 46. European majors were mixed with notable weakness seen in Sterling.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 04 15 14:49 GMT
EUR: The single currency has remained under pressure and bids at 1.1110-15 were filled but buy orders are still noted at 1.1085-90, 1.1050 and 1.1020-25, buying interest should emerge around 1.0990-00 (stops below 1.0980). On the upside, offers are seen at 1.1190-00, more selling interest is tipped at 1.1220-25 and 1.1250 (stops above), sell orders are located at 1.1280 and 1.1300.
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Mid-Day Report: Dollar Rises on Overall Positive Job Data Print E-mail
Market Overview | Written by ActionForex.com | Sep 04 15 13:03 GMT
Dollar rises in early US session on generally positive job data. Non-farm payroll report showed 173k growth in the job market in August, far below expectation of 220k. Nonetheless, July's figure was revised higher from 215k to 245k while June's figure was also revised up fro 231k to 245k. Unemployment rate dropped to 5.1% in August, better than expectation of 5.2% and hit the lowest level since April 2008. Participation rate was unchanged at 62.6%. Average hourly earnings rose 0.3% mom in August, higher than 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 04 15 11:47 GMT
EUR: The single currency has recovered after falling to 1.1087 yesterday, however, offers are still noted at 1.1180 and 1.1200, more selling interest is tipped at 1.1220-25 and 1.1250 (stops above), sell orders are located at 1.1280 and 1.1300. On the downside, bids are now seen at 1.1110-15 and 1.1085-90, more buy orders are expected at 1.1050 and 1.1020-25, buying interest should emerge around 1.0990-00 (stops below 1.0980). Option expires today include: 1.0900 (large), 1.0950, 1.0970, 1.0980, 1.1000 (2.5 bln), 1.1050, 1.1075, 1.1100 (over 2 bln), 1.1130 (large), 1.1150 (large), 1.1200 (over 2 bln), 1.1225 (large), 1.1260 (large), 1.1300 (over 1 bln), 1.1350 (over 1 bln), 1.1450 (near 1 bln) and 1.1500 (over 3 bln).
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Daily Report: NFP Takes the Stage From Dovish ECB Print E-mail
Market Overview | Written by ActionForex.com | Sep 04 15 03:00 GMT
The dovish ECB press conference yesterday weakened the Euro as well as other European majors and set the stage for a dollar rally. The torch is now passed to employment report from US today. Non-farm payroll is expected to show 220k growth in the job market in August. Unemployment rate is expected to drop to 5.2%. Average hourly earnings are expected to grow 0.2%. The pre-NFP employment data pointed to downside risk in today's release. The ADP employment report showed 190k private sector job growth in August, missing expectation of 200k. 4 week moving average of initial claims rose from 268k to 276k in the past month. Employment component of ISM manufacturing dropped from 52.7 to 51.2, hitting the lowest level since April. Employment component of ISM non-manufacturing dropped from 59.6 to 56.0. Nonetheless, Conference Board consumer confidence improved sharply from 91.0 to 101.5 and hit the highest level since January.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 15 14:40 GMT
EUR: The single currency dropped again in NY morning in part due to upbeat US data, bids at 1.1200, 1.1180, 1.1160 and 1.1120-30 were filled, mixture of bids and stops at 1.1100 barrier is in focus, some buy orders are scattered around 1.1050-60 and 1.1020-25, buying interest is tipped at 1.0990-00 (stops below 1.0980). On the upside, offers are now seen at 1.1150-55 and 1.1190-00, sell orders are expected at 1.1220 and 1.1240-50 (stops above), selling interest should emerge around 1.1280 and 1.1300 with stops building up above 1.1335-40.
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Mid-Day Report: Euro Falls on Dovish ECB Draghi, Outlook Downgrade Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 15 14:06 GMT
Euro tumbles after ECB downgraded economic outlook and hinted that its ready to expand the quantitative easing program given the downside risks. ECB kept interest rate unchanged at 0.05% as widely expected. In the post meeting press conference, ECB president Mario Draghi noted that the economic recovery in the region was "somewhat weaker". And the EUR 60b per month asset purchase program could be adjusted on its size, composition and duration.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 15 09:01 GMT
EUR: The single currency found support just above 1.1200 and has recovered, however, offers are still noted at 1.1250, 1.1270 and 1.1290-00, more sell orders are reported at 1.1320-25, 1.1340 and 1.1360, mixture of offers and stops is located at 1.1400. On the downside, bids remain at 1.1200, 1.1180 and 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1120-30 and 1.1100 (stops below barrier at 1.1100). Option expires today include: 1.1100 (near 1 bln), 1.1110, 1.1150, 1.1200, 1.1350 and 1.1400.
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Daily Report: Aussie Soft on Weak Data, ECB Watched Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 15 04:22 GMT
Australian dollar stays soft in Asian session and continues to struggle around 0.7 against the greenback. Trade deficit narrowed to AUD -2.46b in July, smaller than expectation of AUD -3.10b. Nonetheless, that's still the country's 16th consecutive monthly balance of deficit. Also, while exports rose 2% mom, that's mainly thanks to 62% mom rise in non-monetary gold shipments, which should be temporary. On the other hand, imports was steady and rose by less than 0.1% mom. Also from Australia, retail sales dropped -0.1% mom in July, much worse than expectation of 0.4% mom.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 15 14:10 GMT
GBP: Cable recovered after falling 1.5264, bids are still noted at 1.5265, 1.5250 and 1.5220, buying interest is tipped at 1.5190-00 and further out at 1.5160-70. On the upside, offers are seen at 1.5320 and 1.5350, sell orders are expected at 1.5380 and 1.5400, selling interest should emerge around 1.5420 and 1.5450.
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Mid-Day Report: European Majors Lower as Sentiments Stabilized Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 15 13:19 GMT
European majors are generally lower today while commodity currencies recover as risk sentiments stabilized. European indices are fluctuating between gain and loss in tight range today while US futures point to a rebound. Released from US, ADP report showed 190k growth in private sector jobs in August, slightly below expectation of 200k. Prior month's figure was revised lower fro 185k to 177k. Also from US, non-farm productivity was finalized at 3.3% in Q2 while unit labor cost dropped -1.4%.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 15 10:15 GMT
EUR: The single currency found support just above 1.1240 and has recovered in European morning, however, offers are still noted at 1.1290-00, 1.1330 and 1.1360 (sizeable), sell orders are reported at 1.1395-00 (stops above) and further out at 1.1440. On the downside, bids are seen at 1.1240, 1.1220 and 1.1200, more buy orders are expected at 1.1180 (stops below) and 1.1160 with stops placed below 1.1150, buying interest is tipped further out at 1.1120-30 and 1.1100 (stops below barrier at 1.1100). Option expires today include: 1.0990, 1.1000, 1.1100, 1.1110 (large), 1.1120, 1.1150, 1.1200 (large), 1.1270, 1.1275, 1.1300 (large), 1.1375 and 1.1500.
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Daily Report: Risk Aversion Continues, Aussie Lower on GDP Miss Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 15 04:47 GMT
US equities tumbled overnight with DJIA losing -469.68 pts, or -2.84% to close at 16058.35, after breaching 16000 handle. S&P 500 also dropped -58.33 pts, or -2.96%, to close at 1913.85. Asian markets opened lower but quickly recovered. Sentiments were weighed down by renewed worry over slowdown in China and spillover to the global economy. IMF chief Christine Lagarde said yesterday that global growth was expected to remain moderated and would likely be "weaker than we anticipated last July". She noted two forces in play, "a weaker than expected recovery in advanced economies" and "a further slowdown in emerging economies, especially in Latin America". Also, Lagarde warned that Asia's growth was "turning out slower than expected" and may slow even further due to "recent spike in global risk aversion and financial market volatility". Regarding China, she noted that "unwinding of risks built up in recent years is complex and could well be somewhat bumpy." But she remained confidence that "the authorities have the policy tools and financial buffers to manage this transition."
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