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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 | Nov 19 13 09:08 GMT
EUR: The single currency eased after rising to 1.3542 yesterday, selling interest is still seen at 1.3540-50 with stops building up above 1.3550-60, more offers are expected at 1.3580, 1.3600-10 (stops above) and 1.3625. On he downside, bids are still noted at 1.3470-80 and 1.3440-50, more buy orders are expected at 1.3415-25 and 1.3400, fresh demand should emerge around 1.3370 and 1.3350 (stops below both levels). Option expires today include: 1.3400, 1.3465, 1.3470, 1.3480 and 1.3490.
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Daily Report: Equities Pared Gain after Making New Record on Fedspeaks Print E-mail
Market Overview | Written by ActionForex.com | Nov 19 13 05:21 GMT
US equities made another record high overnight but paired against after comments from Fed officials. DOW breached 16000 level to 16030.28 before paring gains to close at 15976.02, up 14.32 pts. S&P 500 also breached 1800 psychological level to 1802.33 but ended the day down -6.65 pts at 1791.53. We might start to see some profit taking at current level. In the currency markets, dollar remains soft with EUR/USD back above 1.35 level while GBP/USD is trading above 1.61. It's a bit disappointing that in spite of strong risk appetite, AUD/USD is still limited below 0.9421 minor resistance while USD/CAD is held above 1.0397 minor support. The risk sentiments seems not transfer to the FX markets and we'd be cautious on a rebound in the greenback, should US stocks markets pull back.
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Mid-Day Report: Risk Appetite Drives Markets, Commodity Currencies Firmer Print E-mail
Market Overview | Written by ActionForex.com | Nov 18 13 13:53 GMT
Risk appetite is the main theme in the markets today with China's reform plans pushing major indices higher. European indices are in positive territory at the time of writing. The expectation of Fed to maintain stimulus provides additional support to US equities. Stock futures are pointing to a higher open and DOW and S&P 500 could make another record highs today. The price actions in the currency markets are rather dull though. Commodity currencies are the major winners today but we've yet to see decisive buying momentum. European majors are mildly firmer against dollar while sterling seems to be lagging behind. Yen is mixed in tight range.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 18 13 13:37 GMT
EUR: The single currency continued to move higher, mixture of offers and stops at 1.3510 was tripped, sell orders are tipped at 1.3525 and further out at 1.3550 (stops above 1.3560), more offers are expected at 1.3580, 1.3600-10 and 1.3625. On he downside, bids are raised to 1.3475 and 1.3440-50, more buy orders are expected at 1.3415-25 and 1.3400, fresh demand should emerge around 1.3370 and 1.3350 (stops below both levels).
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 18 13 09:06 GMT
EUR: The single currency edged higher again and offers at 1.3490-00 were filled, however, combination of offers and stops is still seen at 1.3510, fresh sell orders are tipped at 1.3525 and further out at 1.3550 (stops above 1.3560), more offers are tipped at 1.3580, 1.3600-10 and 1.3625. On he downside, bids are raised to 1.3475 and 1.3440-50, more buy orders are expected at 1.3415-25 and 1.3400, fresh demand should emerge around 1.3370 and 1.3350 (stops below both levels). Option expires today include: 1.3400, 1.3420, 1.3450, 1.3495, 1.3500 (large) and 1.3525.
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Daily Report: China Boosted Asian Equities, Dollar Mildly Lower Print E-mail
Market Overview | Written by ActionForex.com | Nov 18 13 07:02 GMT
Asian equities ex-Japan were generally boosted by strong rally in Chinese stocks as the week starts. The China government released on November 15 the details of a reform package addressing 16 areas with 60 major initiatives across almost all the areas. It is expected that tax reform, interest rate liberalization and adjustment to the one-child policy would likely to be executed in 2014. It appears that government would like to define again the roles of government and market by sharply reducing government's influence in resource allocation and allowing market to play a decisive role in this regard. The government would mainly be responsible for maintaining macro stability, improving public services, ensuring fair competition and strengthening regulations. The government would also establish an "ex-ante negative list". Private and foreign investments are allowed without prior approval to enter industries restricted by the negative list. The government also planes to allow market forces to determine prices of water, oil, natural gas, power, transportation and telecom. Although the reform plan appears comprehensive and aggressive, its success will be determined by policy design and execution.
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Weekly Review and Outlook: Yen Broadly Lower as Dovish Yellen Boosted Stocks to Record High Print E-mail
Market Overview | Written by ActionForex.com | Nov 16 13 10:44 GMT
The Japanese yen was sold off broadly on strong risk appetite in the US markets last week. DOW and S&P 500 were pushed to new record highs by Yellen's comment on her Fed chairman nomination confirmation hearing with Senate. DOW ended the week up nearly 200 pts at 15961.7. S&P 500 rose 27.6 pts to close at 1798.18, just shy of 1800 level. Treasury yield pared some of recent gains with 10 year yield back pressing 2.7 to close at 2.709%. 30 year yield was also back at 3.801% level. Dollar index, on the other hand, was stuck in tight range without a clear direction. While the impact from risk appetite on yen was clear, it's not too apparent elsewhere in the forex markets. Australian dollar was indeed the second weakest currency last week, followed by the greenback. Among European majors, Euro was the strongest one even though it finally gave back some way to sterling towards the end of the week.
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Mid-Day Report: Yen Weakness Continues in Risk Seeking Markets Print E-mail
Market Overview | Written by ActionForex.com | Nov 15 13 14:24 GMT
Yen remains broadly pressured today in an otherwise directionless markets. Risk appetite drove Asian equities higher, which is followed by mild gains in major European indices. US futures also point to higher opening with DOW and S&P 500 likely making new record highs before having a strong weekly close. Data from US saw empire state manufacturing index dropped to -2.2 in November, much worse than expectation of a rise to 5. import price index dropped -0.7% mom in October, below expectation of -0.5%. Industrial production dropped -0.1% in October versus consensus of 0.1% rise. Other data released saw Canadian manufacturing shipments rose 0.6% mom in September. Eurozone CPI was finalized at 0.7% yoy in October with core CPI at 0.8% yoy.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 15 13 13:52 GMT
EUR: The single currency remained confined within near term range and further sideways trading is in store, indicated offers remain at 1.3490-00 and combination of offers and stops is still seen at 1.3500-10, fresh sell orders are tipped at 1.3525 and further out at 1.3550. On he downside, bids are expected at 1.3415-25, more buy orders are reported at 1.3400, decent demand is noted at 1.3380 and 1.3355-60 (stops below both levels), followed by mixtures of bids and stops located 1.3315-20 and 1.3280-90.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 15 13 08:57 GMT
EUR: The single currency retreated after faltering below indicated offers at 1.3490-00 and combination of offers and stops remains at 1.3500-10, fresh sell orders are tipped at 1.3525 and further out at 1.3550. On he downside, bids are still seen at 1.3415-25, more buy orders are reported at 1.3400, decent demand is reported at 1.3380 and 1.3355-60 (stops below both levels), followed by mixtures of bids and stops located 1.3315-20 and 1.3280-90. Option expires today include: 1.3300, 1.3350, 1.3400, 1.3420, 1.3450 (large), 1.3475, 1.3500, 1.3510 and 1.3565.
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Daily Report: Yellen Boosted Equities, Yen Stays Weak Print E-mail
Market Overview | Written by ActionForex.com | Nov 15 13 01:11 GMT
US equities were boosted to another record high after Fed chairman nominee Yellen warned of withdrawing stimulus. DOW rose 54.59 pts to close at 15876.22 while S&P 500 rose 8.62 pts to close at 1790.62. Treasury yields dived initially but pared some losses before closing. 10 year yield ended down -0.023 at 2.702% after dropping to 2.686%. 30 year yield ended down -0.029 at 3.80% after dropping to 3.764%. Dollar index, however, recovered and is back trading above 81 level for the moment. In the currency markets, though, dollar remains down against most major currencies this week, except versus yen and aussie.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 14 13 14:23 GMT
GBP: Despite intra-day brief retreat in London morning on soft UK retail sales data, cable found renewed buying interest at 1.5988 and has staged a strong rebound since, however, sell orders are still seen at 1.6070-75 and also in good size at 1.6100-10, combination of offers and stops is located at 1.6115-25. On the downside, bids remain at 1.5985-90, more buy orders are seen at 1.5960-65 and 1.5940 with some stops placed below 1.5935.
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Mid-Day Report: Dollar Recovered ahead of Yellen, Yen Broadly Pressured Print E-mail
Market Overview | Written by ActionForex.com | Nov 14 13 13:48 GMT
Dollar recovered yesterday's loss and has indeed strengthened against the broadly pressured yen today. Focus will be on Yellen's testimony to Senate. Ahead of her testimony before the Senate as the candidate for the Fed's chairmanship, Janet Yellen's official statement released yesterday reinforced her dovish stance. Fed's vice Chairman Janet Yellen stated that "at 7.3% in October, [the unemployment rate] is still too high, reflecting a labor market and economy performing far short of their potential", revealing her stance that accommodative measures remained necessary. Concerning the Fed's efforts to enhance transparency, she stressed that she had "strongly supported this commitment to openness and transparency, and will continue to do so" while on the Fed's supervisory and regulatory role, she believed that central bank has "sharpened its focus on financial stability and is taking that goal into consideration when carrying out its responsibilities for monetary policy". We believe the tone would be more or less the same as Yellen testifies today.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 14 13 09:04 GMT
EUR: The single currency found support at 1.3390 and has rallied again in late NY, offers at 1.3450-80 area were filled but price has retreated after running into offers ahead of 1.3500. At the moment, mixture of offers and stops remains at 1.3500-10, fresh sell orders are tipped at 1.3525 and further out at 1.3550. On the downside, bids are tipped at 1.3445-50 and 1.3400, sizeable buy orders are reported at 1.3380 and 1.3355-60 (stops below both levels). Option expires today include: 1.3315, 1.3350, 1.3370, 1.3390, 1.3480, 1.3485, 1.3500 (large), 1.3525, 1.3590 and 1.3600.
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Daily Report: Dovish Yellen Boosted Stocks, Sent Dollar Lower Print E-mail
Market Overview | Written by ActionForex.com | Nov 14 13 02:37 GMT
US equities were boosted to another record high overnight while dollar pared some recent gains on Fed chairman nominee Yellen's dovish comments. DOW rose 70.96 pts to close at 15821.63, close to intraday high of 15822.98. S&P 500 rose to 14.31 pts to 1782.00, at day high. Both were new record for the indices. Treasury yield dipped mildly with 10 year yield closing down to 2.725% while 30 year yield closed down to 3.829%. Dollar index dipped through 81 level and is back at 80.86 at the time of writing. In the currency markets, the greenback is losing ground against other major currencies except yen and aussie from the weekly perspective.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 13 13 14:50 GMT
EUR: The single currency has rebounded in New York opening and indicated bids are still noted at 1.3400, 1.3370 and 1.3330-50 area, more buy orders are reported at 1.3290-10 region, fresh demand should emerge around 1.3260-70, followed by some stops below 1.3240-50. On the upside, selling interest is still seen from 1.3450 all the way up to 1.3480, mixture of offers and stops is located at 1.3500-10 but fresh sell orders are tipped at 1.3525 and further out at 1.3550.
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Mid-Day Report: Sterling Rebounds on Inflation Report and Data, But Strength Limited Print E-mail
Market Overview | Written by ActionForex.com | Nov 13 13 13:39 GMT
Sterling rebounds today on an optimistic BoE quarterly inflation report and positive employment data. The most important piece of projection data in the BoE report was unemployment rate. The central now forecast that it might reach the 7% threshold by Q3 of 2015. In the previous report, BoE expected it wouldn't reach 7% by 2016. Meanwhile, BoE projected GDP growth to be 2.6% in 2014 and 2.5% in 2015. However, it should also be noted that inflation projection was lowered. BoE now expects headline inflation to be below the 2% target at the start of 2015, comparing to prior projection of 2.2%.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 13 13 10:40 GMT
EUR: The single currency continued to meet offers just above 1.3450 and selling interest is still seen from 1.3450 all the way up to 1.3480, mixture of offers and stops is located at 1.3500-10 but fresh sell orders are tipped at 1.3525 and further out at 1.3550. On the downside, bids are seen at 1.3400, 1.3370 and 1.3330-50 area, more buy orders are reported at 1.3290-10 region, fresh demand should emerge around 1.3260-70, followed by some stops below 1.3240-50. Option expires today include: 1.3350, 1.3375, 1.3400, 1.3450, 1.3470, 1.3485, 1.3500 (large), 1.3520 and 1.3525.
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Daily Report: Dollar Lower after Fedspeaks, BoE Inflation Report Watched Print E-mail
Market Overview | Written by ActionForex.com | Nov 13 13 06:00 GMT
Dollar was mildly soft in quiet trading overnight after comments from Fed officials. Atlanta Fed President Lockhart, a voter next year, did not rule out that a tapering could begin in as soon as December. However, he preferred to see inflation rising back towards 2% first. According to him, inflation is "stable but too low" and a move higher would "give me some confidence we are not dealing with some downside scenario that might develop". He also noted that the tapering decision should "focus mostly on employment and inflation, both of which are pretty far from the mandate-consistent levels we are seeking". Besides, he stated that he is comfortable with a 6.5% unemployment rate as the threshold for the first rate hike while there would likely be discussion on lowering the threshold to 6%. Meanwhile, Minneapolis Fed President Kockerlakota, a voter in 2014, suggested that the threshold for the first rate hike should be 5.5%. He is more dovish than Lockhart and suggested that the Fed should continue QE at the present pace and open the possibility of accelerating the pace if economic recovery disappoints.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Nov 12 13 14:38 GMT
JPY: The greenback maintained a firm undertone in part due to cross-selling in yen, however, selling interest is still seen ahead of option barrier at 100.00 (more stops above figure), some stop buy orders are reported at 100.10, sell orders are expected at 100.25-35 and 100.50 (another barrier). On the downside, bids remain at 99.50-60, 99.20-30 and 98.90-00, more buy orders are tipped at 98.70 and further out at 98.50 as well as 98.30.
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