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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 | Jan 15 16 14:39 GMT
EUR: The single currency rallied and offers at 1.0940-50 and 1.0965 were filled, however, sell orders are still noted at 1.0985, 1.1000 and 1.1025, selling interest should emerge around 1.1050, 1.1080 and 1.1100. On the downside, bids are raised to 1.0920-30, 1.0900 and 1.0880, buy orders are expected at 1.0855-60, 1.0835-40 and 1.0800-10 (stops below), buying interest is tipped at 1.0780-85, 1.0750 and 1.0720, buyers are awaiting at 1.0700, 1.0675 and 1.0650 (stops below).
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Mid-Day Report: Risk Aversion Returns Before Weekly Close Print E-mail
Market Overview | Written by ActionForex.com | Jan 15 16 13:40 GMT
Concerns over slowdown in China and declining oil prices come back today and send global equities broadly lower. The China Shanghai Composite dropped -3.55% to close at 2900.97 and entered into bear market. Data from China showed that banks lent CNY 597.8b in new loans in December, much lower than November's CNY 708.9b in November. Crude oil also resumed recent down trend and dipped to as low as 29.39 so far. At the time of writing European indices are generally in red with FTSE down -1.4%,, DAX down -1.2%, CAC down -1.4%. US futures also point to triple-digit loss.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 15 16 09:43 GMT
EUR: The single currency found buying interest at 1.0835 yesterday and has rebounded, bids are noted at 1.0855-60 and 1.0835-40, buy orders are reported at 1.0800-10, 1.0780-85 and 1.0750, buyers are awaiting at 1.0720, 1.0700, 1.0675 and 1.0650 (stops below). On the upside, offers are seen at 1.0940-50, 1.0965 and 1.0985, sell orders are expected at 1.1000, 1.1025 and 1.1050, selling interest should emerge around 1.1080 and 1.1100. Option expires today include: 1.0700 (over 1 bln), 1.0750 (over 1 bln), 1.0780 (over 1 bln), 1.0800 (over 2 bln), 1.0900 (over 1 bln) and 1.1000 (close to 2 bln).
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Daily Report: Dollar Firm as Markets Await US Data Print E-mail
Market Overview | Written by ActionForex.com | Jan 15 16 02:52 GMT
Dollar remains generally higher this week except versus Aussie. Stabilizing sentiments in stock markets is giving the greenback some support. But overall there is no sign of a change in trend in the risk markets yet. DJIA is still vulnerable to a break of 16000 handle in in spite of yesterday's 227.6 pts rebound. Crude oil is hovering above 30 for the moment and is set for another take on this handle again in near term. Meanwhile, dollar remains bounded in range against euro, yen and swiss franc. Yen crosses are also taking a breather after recent sharp fall. The markets are waiting for new triggers after recent volatility.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 16 14:39 GMT
EUR: The single currency ran into selling interest at 1.0943 and has retreated, however, bids are still noted at 1.0840-50, 1.0825 and 1.0800-10, buy orders are reported at 1.0780-85, 1.0750 and 1.0720, buyers are awaiting at 1.0700, 1.0675 and 1.0650 (stops below). On the upside, offers are seen at 1.0940-50, 1.0965 and 1.0985, sell orders are expected at 1.1000, 1.1025 and 1.1050.
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Mid-Day Report: Financial Markets Seeking Direction Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 16 13:49 GMT
The financial markets are relatively directionless today. While European indices are generally trading lower, US futures point to a higher open. Commodity currencies were sold off earlier today but recovered. Meanwhile, the greenback stays in tight range against Euro and yen. Released from US, initial jobless claims rose to 284k in the week ended January 9. Import price index dropped -1.2% mom in December. Canada new housing price index rose 0.2% mom in November.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 16 10:42 GMT
EUR: The single currency met resistance just below 1.0900 and has retreated in European morning, however, bids are still noted at 1.0840, 1.0825 and 1.0800-10, buy orders are reported at 1.0780-85, 1.0750 and 1.0720, buying interest is tipped at 1.0700, 1.0675 and 1.0650 (stops below). On the upside, offers are seen at 1.0880, 1.0900 and 1.0930, sell orders are expected at 1.0950, 1.0965 and 1.0985, selling interest should emerge around 1.1000, 1.1025 and 1.1050. Option expires today include: 1.0800, 1.0825 and 1.0900.
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Daily Report: Asian Stocks Recovered after Initial Selloff Print E-mail
Market Overview | Written by ActionForex.com | Jan 14 16 06:35 GMT
Asian markets were sharply lower in initial trading, in reaction to the -2.21%, or -364.8 pts fall in DJIA overnight. But there seems to be some bargain hunting towards the end of Asian session. The China Shanghai Composite dropped to as low as 2867.55 intraday, and breached the low made in last year's rout in August. But it reversed earlier losses and is trading up at the time of writing. HK HSI, and to a lesser extent, Nikkei, followed. Meanwhile, in the currency markets, major pairs are crosses are generally stuck in range with the exception of Canadian dollar. Yen maintains a firm tone but need more drastic developments in the stock markets to put it higher.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 16 14:11 GMT
EUR: The single currency remained under pressure but buy orders are still noted at 1.0800 and 1.0780, buying interest is tipped at 1.0750 and 1.0720, mixture of bids and stops is located at 1.0700. On the upside, offers are seen at 1.0840-50, 1.0875-80 and 1.0900, sell orders are expected at 1.0930 and 1.0950, sellers are awaiting at 1.0965, 1.0985 and 1.1000, selling interest should emerge around 1.1025, 1.1050, 1.1080 and 1.1100.
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Mid-Day Report: Stocks Rebound Continue, European Currencies Soft Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 16 14:05 GMT
Global stock markets recover today as situation in China markets continued to stabilize. Major European indices are trading up around 1% at the time of writing. US futures also point to another day of rebound. Gold dips back to 1080 as risk aversion receded. WTI crude oil also recovers mildly and is back above 31 after dipping through 30 yesterday. In the currency markets, commodity currencies recovered and are trading higher in general but momentum has been very weak so far. Dollar is also generally higher against European majors and yen as sentiments calmed. Nonetheless, we're not seeing sustainable buying in the greenback yet.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 16 09:26 GMT
EUR: The single currency traded lower and bids at 1.0830 were filled but buy orders are still noted at 1.0800 and 1.0780, buying interest is tipped at 1.0750 and 1.0720, mixture of bids and stops is located at 1.0700. On the upside, offers are lowered to 1.0840-50, 1.0875-80 and 1.0900, sell orders are expected at 1.0930 and 1.0950, sellers are awaiting at 1.0965, 1.0985 and 1.1000, selling interest should emerge around 1.1025, 1.1050, 1.1080 and 1.1100. Option expires today include: 1.0800 (large), 1.0870, 1.0950 and 1.1035 (over 2 bln).
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Daily Report: Asian Equities Higher and Recovery Continues Print E-mail
Market Overview | Written by ActionForex.com | Jan 13 16 03:24 GMT
Asian equities open higher today in reaction to the rebound in US equities overnight. DJIA closed up 117.65 pts or 0.72% to close at 16515.22 but was kept well below 17000 handle. At the time of writing Nikkei is up 2.7%, HK HSI up 2% and China SSE composite up 0.8%. Trade data from China also provide some support to sentiments. Trade surplus widened to USD 58.2b in December versus expectation of USD 52.2b. In Yuan term, exports surprised with 2.3% yoy rise comparing to expectation of -4.1% yoy drop. Imports dropped for the 14th month in Yuan term. That's thanks to recent depreciation in Yuan. Meanwhile, in USD term exports dropped -6.8% yoy to USD 197.4b while imports dropped -8..8% yoy to USD 143.1b.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 12 16 14:05 GMT
GBP: Cable has dropped quite sharply after breaking support at 1.4495, bids at 1.4465, 1.4450 and 1.4425 were filled, however, buy orders are still noted at 1.4400 and 1.4380, buying interest is tipped further out at 1.4350-60 (stops below). On the upside, offers are lowered to 1.4470 and 1.4495-00, sell orders are expected at 1.4535-40, 1.4560 and 1.4585, sellers are awaiting at 1.4600, 1.4625 and 1.4640, selling interest should emerge around 1.4665, 1.4685 and 1.4700.
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Mid-Day Report: Sterling Tumbles after Weak Production Data Print E-mail
Market Overview | Written by ActionForex.com | Jan 12 16 13:46 GMT
Sterling drops sharply today after weaker than expected economic data. UK industrial production dropped -0.7% mom, rose 0.9% yoy in November versus expectation of 0.0% mom, 1.7% yoy. Manufacturing production dropped -0.4% mom, -1.2% yoy versus expectation of 0.1% mom, -0.8% yoy. BRC retail sales monitor rose 0.1% yoy in December. BoE rate decision will be a focus later in the week but the central bank is expected to keep interest rate and asset purchase target unchanged. While there are still some speculations that BoE would hike rates mid this year, more economists are pushing away their expectations. Some now expect BoE to delay rate hike to Q4, or even to 2017. Three major factors are the uncertainty over EU referendum, return of global risk aversion and persistent weakness in energy prices and its impact on inflation.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 12 16 10:10 GMT
EUR: The single currency met resistance at 1.0900 and has retreated, offers are still noted at 1.0900, 1.0930 and 1.0950, sell orders are expected at 1.0965, 1.0985 and 1.1000, selling interest should emerge around 1.1025, 1.1050, 1.1080 and 1.1100. On the downside, bids are seen at 1.0850, 1.0830 and 1.0800, buying interest is tipped at 1.0780, 1.0750 and 1.0720, mixture of bids and stops is located at 1.0700. Option expires today include: 1.0700 (large), 1.0800, 1.0950 and 1.0960.
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Daily Report: Selloff in Oil Drags Down Loonie, Stable Markets Elsewhere Print E-mail
Market Overview | Written by ActionForex.com | Jan 12 16 02:59 GMT
Canadian dollar suffer selloff on a relatively quiet week so far. WTI crude oil tumbled to fresh low and hit as low as 30.88 overnight and stays soft at around 31 in Asian session. There were talks that WTI is heading to 20 handle on both China slowdown and appreciation of Dollar. USD/CAD reached as high as 1.4244 and stays bullish. The pair is having solid upside momentum and should be on course to next fibonacci level at 1.4367 in near term. USD/CAD would likely stay strong even though Dollar's strength might be unconvincing elsewhere. While EUR/CAD is also strong, it's still being limited below a key long term resistance level at 1.5585 (2014 high). And clearing of this hurdle is needed to confirm medium term strength in the cross.
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Mid-Day Report: FX Range Bound, US and European Stocks Recover Print E-mail
Market Overview | Written by ActionForex.com | Jan 11 16 14:35 GMT
After initial volatility, the forex markets are generally back in last Friday's range. Yen was lifted initially due to selloff in Asian stocks but retreated as European equities recovered. Nonetheless, investor sentiments are still vulnerable as major European indices are only recording slightly gains. Meanwhile, US stocks open higher with DJIA trading up 70 pts in initial trading. In other markets, gold is firm, consolidating in tight range around 1100. WTI crude oil is pressured and struggles below 33 handle. Released from Canada, housing starts dropped to 173k in December.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 11 16 14:13 GMT
EUR: The single currency retreated after meeting strong resistance at 1.0970 but buy orders are still noted at 1.0860, 1.0830 and 1.0800, buying interest is tipped at 1.0780, 1.0750 and 1.0720, mixture of bids and stops is located at 1.0700. On the upside, offers are seen at 1.0910, 1.0930 and 1.0950, sell orders are expected at 1.0965, 1.0985 and 1.1000, selling interest should emerge around 1.1025, 1.1050, 1.1080 and 1.1100.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Jan 11 16 11:17 GMT
EUR: The single currency ran into resistance at 1.0970 earlier today and has retreated, bids at 1.0880 were filled but buy orders are still noted at 1.0860, 1.0830 and 1.0800, buying interest is tipped at 1.0780, 1.0750 and 1.0720, mixture of bids and stops is located at 1.0700. On the upside, offers are seen at 1.0900, 1.0930 and 1.0950, sell orders are expected at 1.0965, 1.0985 and 1.1000, selling interest should emerge around 1.1025, 1.1050, 1.1080 and 1.1100. Option expires today include: 1.0790 (large), 1.0800 (large), 1.0975 (large) and 1.1000.
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Daily Report: Markets Started With Risk Aversion But Stabilized Print E-mail
Market Overview | Written by ActionForex.com | Jan 11 16 08:41 GMT
Risk aversion extended to this week's Asian session with MSCI Asia-Pacific ex-Japan index dropped -1.8% to the lowest level since 2011. Selloff in Chinese stocks resumed with the SSE composite losing another -5.3%, or -169.7 pts, to close slightly above 3000 handle at 3016.7. Hong Kong HSI also lost -2.76%, or -565 pts. Nonetheless, sentiments seemed to have stabilized in early European session as major European indices opened mixed only, with FTSE and DAX having mild losses. In the currency markets, while yen surged earlier today, it's reversed earlier gains and is trading below Friday's close for the moment. Commodity currencies also recovered from initial losses.
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