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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 05 13 14:28 GMT
EUR: Despite triggering stops above 1.3220, the single currency ran into heavy offers there and has tumbled in New York morning on dollar's broad-based strength after the release of solid U.S. data, bids from 1.3160 down to 1.3130 were filled, some stops below 1.3130 were also tripped, however, fresh demand should emerge from 1.3120 down to 1.3090 (every 10 points interval), option defensive bids are expected above 1.3050 barrier. On the upside, offers are lowered to 1.3180 and also in good size at 1.3110-20 with stops building up above 1.3225-30, fresh sell orders should emerge from 1.3240 up to 1.3260 with stops building up above latter level, offers should emerge around 1.3280 and also from 1.3300 up to 1.3320 (more stops above).
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 05 13 08:45 GMT
EUR: The single currency has retreated after yesterday's rebound to 1.3218 on dollar's broad-based strength, offers are lowered to 1.3190 and 1.3210 (some stops above 1.3220), more sell orders are located from 1.3225 all the way up to 1.3260 with stops building up above latter level, fresh offers should emerge around 1.3280 and also from 1.3300 up to 1.3320 (more stops above). On the downside, bids are still noted from 1.3160 down to 1.3130, some stops are placed below 1.3130 but fresh demand should emerge from 1.3120 down to 1.3090 (every 10 points interval), option defensive bids are expected above 1.3050 barrier. Option expires today include: 1.3060, 1.3065, 1.3100, 1.3110, 1.3150 1.3175, 1.3200 and 1.3250.
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Daily Report: Yen Soft after BoJ, BoE and ECB Next Print E-mail
Market Overview | Written by ActionForex.com | Sep 05 13 04:24 GMT
Yen remains soft in tight range after BoJ left policies unchanged as widely expected. Interest rate was held at near zero level while the central bank also maintained the annual pace of monetary base expansion at JPY 60-70T. In the accompanying statement, BoJ noted that the Japanese economy is "recovering moderately", with exports, business fixed investments picking up. In particular, BoJ noted that pick up in housing investment "has become evident". It also noted that inflation expectations "appear to be rising on the whole". BoJ is optimistic that the economy will continue a "moderate recovery" with CPI likely to rise "gradually". Again, Kiuchi proposed to change the 2% inflation target to a medium-to-long term gong but was voted down 8-1. Technically, yen remains the weakest currency this week and dropped most against the rebounding Aussie and Kiwi. There is no sign of bottoming in the Japanese currency yet and more downside is in favor.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 04 13 14:29 GMT
EUR: The single currency remained confined in narrow range as suggested in our previous update, offers at 1.3180 were filled but sell orders are still noted at 1.3200 and also at 1.3225-30, more sell orders are located at 1.3240-50, followed by mixture of offers and stops at 1.3260, fresh selling interest is located further out at 1.3280 and further out at 1.3300. On the downside, bids are tipped from 1.3160 down to 1.3140, some stops are placed below 1.3135 but fresh demand should emerge around 1.3120 and also in good size from 1.3100 down to 1.3080, some option defensive bids are expected above 1.3050 barrier.
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Mid-Day Report: Canadian Dollar Maintains Gain after BoC on Hold Print E-mail
Market Overview | Written by ActionForex.com | Sep 04 13 14:15 GMT
Canadian dollar recovers earlier today together with other commodity currencies. And it manages to maintain gains after BoC left rates unchanged at 1.00% as widely expected. The central bank maintained in the accompanying statement that a "gradual normalization of policy interest rates" can be expected as normalization of inflation and imbalances in household sector unfolds. Regarding the economy, BoC noted that "uncertain global economic conditions" appear to be "delaying the anticipated rotation of demand in Canada towards exports and investments". Though, it expected GDP to be largely consistent with BoC's July forecast. And, it projected output gap to begin to narrow in 2014. Meanwhile, inflation expectations remained "well-anchored" but it expect it to return to 2% slowly as output gap closes. Other data released in US session saw Canadian trade deficit came in wider than expected at CAD -0.9b. US trade deficit also came in wider than expected at -39.1b.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 04 13 10:47 GMT
EUR: The single currency traded in relatively narrow range after falling to 1.3138 yesterday and minor consolidation is in store. At the moment, offers are still noted at 1.3180, 1.3200 and also at 1.3225-30, more sell orders are located at 1.3240-50, followed by mixture of offers and stops at 1.3260, fresh selling interest is located further out at 1.3280 and further out at 1.3300. On the downside, bids are tipped from 1.3160 down to 1.3140, some stops are placed below 1.3135 but fresh demand should emerge around 1.3120 and also in good size from 1.3100 down to 1.3080, some option defensive bids are expected above 1.3050 barrier. Option expires today include: 1.3100, 1.3150, 1.3250, 1.3325 and 1.3350.
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Daily Report: Asian Markets Lower on Syria, Aussie Lifted by GDP Print E-mail
Market Overview | Written by ActionForex.com | Sep 04 13 04:21 GMT
Asian markets pared some of this week's gain and focus turned back to tension in Syria. Despite the delay in the decision to strike Syria as US President Obama seeks the Congress’ approval, it’s not getting more likely that the vote would be a support for the strike. Key Republican leaders John Boehner and Eric Cantor both stated their support for the action According to Obama, a "limited" strike was needed to degrade President Bashar al-Assad's capabilities to use chemical weapons "now and in the future". Meanwhile, UN Secretary-General Ban Ki-moon reiterated that "the Security Council has primary responsibility for international peace and security," and "the use of force is lawful only when in exercise of self-defense in accordance with article 51 of the United Nations Charter and or when the Security Council approves such action. " He also urged world leaders to "consider the impact of any punitive measure on efforts to prevent further bloodshed and facilitate the political resolution of the conflict."
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Mid-Day Report: Dollar Mildly Higher on ISM Manufacturing Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 13 14:24 GMT
Dollar strengthens mildly in early US session on slightly better than expected economic data. The ISM manufacturing index rose to 55.7 in August, beating consensus of a fall to 54.0. That's also the highest level in more than two years. The details were solid with strong improvement in new orders which jumped to 63.2. Employment component dropped to 53.3, from 54.4, but stayed comfortably above 50 level. Also released, construction spending rose 0.6% mom in July. US president Obama won conditional support for military strike against Syria and he will meet with leaders of congress as well as armed services and foreign affairs and intelligence committees later today.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 13 14:23 GMT
EUR: The single currency extended recent decline in New York morning in part due to the release of stronger-than-expected US ISM data, mixture of bids and stops at 1.3150 was tripped, more stops are placed below 1.3135 but buy orders in good size are tipped at 1.3120 as well as 1.3100. On the upside, offers are lowered to 1.3190-00, 1.3235 and also in good size at 1.3250-55, more sell orders are located at 1.3265 and 1.3280, fresh offers should emerge further out at 1.3300 and 1.3320 with buy stop orders tipped above latter level.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 13 08:29 GMT
EUR: The single currency slipped again today and mixture of bids and stops at 1.3140-50 is now in focus, more stops are placed below 1.3135 but buy orders in good size are tipped at 1.3120 as well as 1.3100. On the upside, offers are lowered to 1.3195-00, 1.3235 and also in good size at 1.3250-55, more sell orders are located at 1.3265 and 1.3280, fresh offers should emerge further out at 1.3300 and 1.3320 with buy stop orders tipped above latter level. Option expires today include: 1.3100, 1.3150, 1.3190, 1.3200, 1.3320, 1.3350 and 1.3370.
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Daily Report: Aussie Mildly Higher after RBA on Hold Print E-mail
Market Overview | Written by ActionForex.com | Sep 03 13 04:56 GMT
Aussie is mildly higher after RBA left rates unchanged at 2.50% as widely expected. The accompanying statement was largely unchanged from the August one, when RBA lowered rates by 25 bps to 2.50%. One notable difference was that while RBA acknowledged recent volatility in financial markets on reassessment of outlook in US monetary policy, "Australian institutions have ample access to funding markets." Regarding the economy, RBA continue to expect "reasonable prospects of a pick-up next year" and inflation was consistent with medium term target. The central bank also reiterated that while Aussie has depreciated by around 15% since April, further decline in exchange rate is still possible. Other data released from Australia saw retail sales rose less than expected by 0.1% mom in July, current account deficit came in wider than expected at AUD -9.4b in Q2.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 13 14:59 GMT
EUR: The single currency faltered just below indicated offers at 1.3230-35 and has retreated, more sell orders are reported at 1.3250, 1.3265 and also from 1.3280 all the way up to 1.3300, mixture of offers and stops is seen at 1.3320-25, followed by bigger offers further out at 1.3340-50. On the downside, bids are lined up in the region of 1.3170-90 and further out at 1.3140-50, more buy orders are tipped at 1.3120 as well as 1.3100.
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Daily Report: Yen Dives on Risk Appetite, Sterling Boosted by PMI Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 13 09:12 GMT
Yen drops sharply as the week started as risk appetite was boosted by receding fear of a strike against Syria and Chinese manufacturing data. The Japanese currency was also weakened on speculation the there would be counteractions to the planned sales tax hike. Aussie and Kiwi are the biggest beneficiary of the risk rallies. Meanwhile Sterling also closely followed on better than expected manufacturing data. The risk of a military strike further receded as US president Obama decided to get congressional approval. The move is at least delayed and would even face the chance of disapproval from Congress. US markets are on holiday today and trade would be subdued entering into US session. Though, a number of important economic data will be released later in the week including ISM indices and NFP.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 02 13 08:25 GMT
EUR: The single currency recovered after falling to 1.3173 late last week in part due to cross-buying against the yen, however, offers are still noted at 1.3230-35 and 1.3250, more sell orders are located at 1.3265 and also from 1.3280 all the way up to 1.3300, mixture of offers and stops is seen at 1.3320-25, followed by bigger offers further out at 1.3340-50. On the downside, bids are lined up in the region of 1.3170-90 and further out at 1.3140-50, more buy orders are tipped at 1.3120 as well as 1.3100. Option expires today include: 1.3200, 1.3250, 1.3270, 1.3320 and 1.3400.
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Weekly Review and Outlook: Focus Back to US Data and Central Banks as Syria Threat Receded Print E-mail
Market Overview | Written by ActionForex.com | Aug 31 13 13:14 GMT
Geopolitical tension in Syria was the main theme in the markets last week. Worried of an imminent strike sent equities market lower and boosted safe haven flow to crude oil and gold. DOW dropped to as low as 14760.41 while crude oil jumped to as high as 112.24. Gold also jumped to 1434.0. Yen tried to strengthen broadly on risk aversion in the currency markets while dollar was generally mixed. Nonetheless, as the risk of an attack faded, markets pared some of the earlier moves towards the end of the week. Latest news was that US Secretary of State Kerry pledged to have a "diplomatic process" with Syria. Market focus will likely turn back to economic data from US this week, as well as a number of central bank meetings.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 30 13 13:47 GMT
EUR: The single currency slipped again in New York morning, whilst sizeable bids are still seen at 1.3200-10, indicated stops below the option barrier at figure are now in focus, fresh demand should emerge around 1.3170-80 and further out at 1.3150. On the upside, offers are lowered to 1.3240 and also at 1.3255-65, more sell orders are tipped at 1.3290-00 and also in good size from 1.3340 up to 1.3360, selling interest from Asian sovereign names are lined up at 1.3390-00.
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Mid-Day Report: Markets Staying in Tight Range Before Weekly Close Print E-mail
Market Overview | Written by ActionForex.com | Aug 30 13 12:39 GMT
Markets remains steady in early US session. While some weakness is seen in Canadian dollar, loss is so far limited. Euro remains in soft in right range against dollar and yen. Financial markets stabilized today as UK and France opposed to imminent military actions against Syria. European indices are generally lower but there isn't much selling momentum. US futures point to a flat opening. Economic data released from US saw person income and spending rose 0.1% in July and both missed expectation. PCE core was unchanged at 1.2% yoy in July. Canadian GDP dropped -0.5% mom in June.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 30 13 08:44 GMT
EUR: The single currency has remained under pressure today, however, sizeable bids are still seen at 1.3200-10 with more stops expected below the barrier at figure, fresh demand should emerge around 1.3170-80 and further out at 1.3150. On the upside, offers are lowered to 1.3255-65, 1.3290-00 and also in good size from 1.3340 up to 1.3360, selling interest from Asian sovereign names are lined up at 1.3390-00, mixture of offers and stops remains at 1.3405-15 area, more stops are noted above 1.3425-30, followed by bigger offers at 1.3450 (stops above 1.3455). Option expires today include: 1.3200 1.3235 1.3250 1.3275 1.3360 1.3400, 1.3430 and 1.3450.
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Daily Report: Yen Mildly Higher, Japan Inflation Accelerated Print E-mail
Market Overview | Written by ActionForex.com | Aug 30 13 03:19 GMT
Yen strengthens mildly in Asian session as equity markets turned soft again. DOW had another day of mild gain of 16.44 pts and the moves were clearly consolidative for digesting recent losses. US yields reversed after initial rally with 10 year yield closing down at 2.751% after rising to 2.83% in early trading. Crude oil is back below 108 level as Syria threat cooled while gold hover between 1400/10. In the currency markets, Euro and Swiss Franc were notably weaker yesterday as pressured in cross selling. The selloff pushed Euro to be the weakest currency this week, even worse than commodity currencies. Meanwhile, dollar is generally higher on expectation of Fed's tapering, being the second strongest currency this week so far next to yen.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 29 13 14:49 GMT
EUR: The single currency continued to head south, mixture of bids and stops at 1.3240-50 was tripped, however, sizeable bids are expected at 1.3200-10 with more stops expected below the barrier, fresh demand should emerge around 1.3170 and further out at 1.3150. On the upside, offers are lowered to 1.3265-70, 1.3300-10 and also in good size from 1.3340 up to 1.3360, selling interest from Asian sovereign names are lined up at 1.3390-00, mixture of offers and stops remains at 1.3405-15 area, more stops are noted above 1.3425-30, followed by bigger offers at 1.3450 (stops above 1.3455).
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