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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 | Oct 07 14 09:22 GMT
EUR: The single currency surged yesterday to as high as 1.2675 before running into resistance and retreated, bids are noted at 1.2600-05, 1.2570-75 and 1.2540-45, buy orders are reported at 1.2525-30, 1.2500-10 and 1.2485, mixture of bids and stops is located at 1.2450, more buying interest is located at 1.2420-25 and 1.2400. On the upside, offers remain at 1.2670-85 area, selling interest is tipped further out at 1.2700-10 (stops above), sell orders are expected at 1.2715-25 and 1.2750. Option expires today include: 1.2550, 1.2595 (large), 1.2600 (large), 1.2635 (large), 1.2650, 1.2700, 1.2730 and 1.2750 (over 1 bln).
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Daily Report: Aussie and Yen in Range after Central Banks Stood Pat Print E-mail
Market Overview | Written by ActionForex.com | Oct 07 14 05:51 GMT
Aussie recovered overnight following broad based pull back in dollar. And the currency holds gain after RBA left rate unchanged at 2.50% as widely expected. The central bank maintained its neutral stance and noted in the statement that "the most prudent course is likely to be a period of stability in interest rates." Regarding exchange rate, it said that Aussie's recent depreciation was "in large part reflecting the strengthening US dollar" and it "remains high by historical standards". And, such depreciation is "offering less assistance than would normally be expected in achieving balanced growth in the economy. Regarding the economy, RBA said data are consistent with "moderate growth" and it expected growth to be "a little below trend" for the next several quarters. It would take "some time" before unemployment declines consistently. Technically, with 0.8826 resistance intact, there is no confirmation of trend reversal in AUD/USD yet and outlook stays bearish for the moment.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 06 14 14:58 GMT
EUR: The single currency continued to edge higher after rebounding from Friday's low of 1.2501, offers at 1.2550 and 1.2565 were filled but sell orders are still noted at 1.2570 and 1.2580-85, mixture of offers and stops is located at 1.2600, sell orders are expected at 1.2615-25 and 1.2675-85, selling interest is tipped further out at 1.2675-85 and 1.2700-10 (stops above). On the downside, bids are raised to 1.2525-30, 1.2500-10 and 1.2485, mixture of bids and stops is located at 1.2450, more buy orders are located at 1.2420-25 and 1.2400.
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Mid-Day Report: Euro Recovers Despite Weak Investor Sentiment Data Print E-mail
Market Overview | Written by ActionForex.com | Oct 06 14 12:38 GMT
Euro recovers mildly against the greenback today and is also firm against Sterling. Eurozone Sentix Investor confidence dropped to -13.7 in October, below expectation of -11.8. That's the lowest level since May 2013. Sentix noted that the index is now "clearly in negative territory" and that means a technical recession in the Eurozone is "ever more likely". Meanwhile, it added that "it's conspicuous that neither the European Central Bank's rhetoric nor its measures were able to drive up investors' expectations of the economy this month." Also released from Eurozone, retail PMI dropped to 44.8 in September. German factory orders dropped -5.7% mom in August.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 06 14 09:27 GMT
EUR: The single currency recovered after holding just above 1.2500 level but offers are still noted at 1.2550, 1.2565-70 and 1.2580-85, mixture of offers and stops is located at 1.2600, sell orders are expected at 1.2615-25 and 1.2675-85, selling interest is tipped further out at 1.2675-85 and 1.2700-10 (stops above). On the downside, bids are still seen at 1.2500-10, 1.2485 and 1.2450 (stops below), more buy orders are located at 1.2420-25 and 1.2400. Option expires today include: 1.2525, 1.2530, 1.2600 (large), 1.2650 (large), 1.2685, 1.2690 and 1.2700 (huge).
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Daily Report: Dollar Firm as Markets Started the Week Quietly Print E-mail
Market Overview | Written by ActionForex.com | Oct 06 14 04:21 GMT
Dollar stays firm in Asian session as markets open the week quietly. The greenback is pressing last week's high against Euro, Sterling, Loonie and Aussie and is staying in tight range. The dollar did edge higher against Swiss Franc but there is no follow through buying yet. In other markets, Nikkei is up 200 pts at the time of writing but lacks decisive momentum to take out 16000 handle yet. Hong Kong HSI recovers mildly and is trading around 100 pts up. Gold opened lower and reached as low as 1183.3 but is back pressing 1190 for the moment. Crude oil struggled in tight range below 90 handle.
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Weekly Review and Outlook: Dollar Rally Extended on Strong Job Data, Sterling Showed Weakness Print E-mail
Market Overview | Written by ActionForex.com | Oct 04 14 14:21 GMT
After struggling in consolidation for most of the week, dollar's rally took off again towards the end as boosted by strong employment data from US. The greenback ended the week as the strongest currency while yen closely followed. European majors were broadly sold off. Indeed, Sterling was the weakest major currency as data pointed to slowdown in the recovery. Also, there were talks that BoE's tightening pace could be much slower than Fed's. Euro recovered against Sterling and Swiss Franc as ECB president Draghi downplayed the target of balance sheet expansion in the post meeting conference, which triggered some short covering. Meanwhile, commodity currencies were mixed as partly supported by rebound in equities.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 03 14 14:11 GMT
EUR: The single currency tumbled on dollar's broad-based strength after the release of stronger-than-expected US NFP data, bids at 1.2615-25, 1.2600, 1.2580-90, 1.2565, 1.2550 and 1.2525-35 were all filled, however, some buying interest is still seen at 1.2500, 1.2485 and 1.2450 (stops below). On the upside, offers are lowered to 1.2550, 1.2570 and 1.2590-00, mixture of offers and stops is located at 1.2620-30 with bigger stops placed above 1.2655-60.
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Mid-Day Report: Dollar Soars as NFP Beat Expectations Print E-mail
Market Overview | Written by ActionForex.com | Oct 03 14 13:21 GMT
Dollar surges sharply as US delivered better than expected job data. Non-farm payroll report showed 248k growth in September versus expectation of 210k. Prior month's figure was also revised up from 142k to 180k. Unemployment rate dropped to 5.9% versus expectation of 6.1%, hitting a six year low. Nonetheless, the participation rate dropped to 62.7%, the lowest level since February 1978. Also released from US, trade deficit narrowed to USD -40.1b in August. EUR/USD resumed recent decline and dropped through 1.2570, reaching as low as 1.2517 so far. USD/CHF also soars through 0.9596 resistance and reaches as high as 0.9660. GBP/USD also finally catches up and drops through 1.6051 support. The dollar index breaches long term projection target of 61.8% projection of 72.69 to 84.75 from 78.90 at 86.35. Medium term momentum remains strong and the up trend would now target 88.70/89.62 key resistance zone next.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 03 14 08:55 GMT
EUR: The single currency ran into selling interest just below 1.2700 and has retreated today, bids at 1.2640 were filled but buy orders are still noted at 1.2615-25, 1.2600 and 1.2580-90, more buying interest is tipped at 1.2565, 1.2550 and 1.2525-35, fresh demand should emerge around 1.2500, 1.2485 and 1.2450. On the upside, offers are lowered to 1.2660, 1.2675-85 and 1.2700-10, sell orders are reported at 1.2725-35, 1.2750 and 1.2775-85, mixture of offers and stops is located at 1.2800-10. Option expires today include: 1.2650 (large), 1.2700 (huge), 1.2725, 1.2735, 1.2750 (large) and 1.2800 (large).
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Daily Report: Dollar in Tight Range as Markets Await Non-Farm Payroll Print E-mail
Market Overview | Written by ActionForex.com | Oct 03 14 07:23 GMT
Dollar stays in tight range against other major currencies as consolidations continue. Non-farm payroll report is the focus today. Economists expect the US job market to grow 210k in September while unemployment rate is expected to be unchanged at 6.1%. Leading employment data saw ADP job grew 213k, an improvement from prior month's 202k. The 4 week moving average initial claims also dropped slightly to 294.8k. Both data were positive. However, the employment component of ISM manufacturing tumbled quite a lot from 58.1 to 54.6, which is negative. Conference board consumer confidence also dropped form 92.4 to 86.0. We'd be cautious on another month of downside surprise in NFP. Also to be watched from US are ISM services which is expected to drop to 58.5 in September, and US trade deficit which is expected to widen slightly to USD -40.7b in August.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 14 14:47 GMT
EUR: The single currency rebounded in European session and offers at 1.2650-60, 1.2675 and 1.2680-85 were filled but more sell orders are reported at 1.2700-10, 1.2725-35 and 1.2750, selling interest is expected to emerge at 1.2775-85 and 1.2800. On the downside, bids remain at 1.2600, 1.2580-90 and 1.2565, buy orders in good size are tipped at 1.2540-50 (more stops below), 1.2525-35 and 1.2500 (stops below figure), fresh demand should emerge around 1.2485 and 1.2450.
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Mid-Day Report: Euro Mildly Higher as ECB Draghi Declined to Quantity Target for Asset Purchase Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 14 13:51 GMT
Euro is mildly higher in early US session after ECB left policies unchanged. ECB president Mario Draghi said that the central bank will buy assets for at least two years to lift inflation and boost growth. While he said the purchase will have sizeable impact on the balance sheet, he declined to provide any specific target. He added that "the risks surrounding the economic outlook for the euro area remain on the downside." And, "the recent weakening in the euro area's growth momentum, alongside heightened geopolitical risks, could dampen confidence and, in particular, private investment." Euro bears pared back some bets on uncertainty on how aggressive ECB's purchase would be.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 14 09:12 GMT
EUR: The single currency met resistance around 1.2674 and has retreated in European morning, offers are lowered to 1.2650-60, 1.2675 and 1.2680-85, more sell orders are reported at 1.2700-10, 1.2725-35 and 1.2750, selling interest is expected to emerge at 1.2775-85 and 1.2800. On the downside, bids are noted at 1.2600, 1.2580-90 and 1.2565, buy orders in good size are tipped at 1.2540-50 (more stops below), 1.2525-35 and 1.2500 (stops below figure), fresh demand should emerge around 1.2485 and 1.2450. Option expires today include: 1.2635, 1.2650, 1.2700 (huge), 1.2720 and 1.2725.
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Daily Report: Dollar Retreated after Weak Data, ECB to Provide Details on ABS Purchases Print E-mail
Market Overview | Written by ActionForex.com | Oct 02 14 05:05 GMT
Dollar retreated broadly overnight after weaker than expected manufacturing data. The ISM manufacturing index dropped to 56.6 in September versus expectation of 58.5. It should also be noted that the employment component dropped rather sharply from 58.1 to 54.6. The ADP employment report was solid though, showing 213k growth in private sector jobs in September versus expectation of 204k. The greenback will need look into the non-farm payroll report to be released tomorrow for the inspiration for further rally. Before that, dollar would likely stay soft in consolidations.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 14 14:32 GMT
EUR: The single currency recovered after holding above yesterday's low at 1.2571 but offers are still noted at 1.2640-50, 1.2665 and 1.2680-85, sizeable sell orders are reported at 1.2700-10, 1.2725-35 and 1.2750-60 (stops above 1.2765), selling interest is expected at 1.2785 and 1.2800. On the downside, bids are now seen at 1.2570-85 area and in good size at 1.2540-50 (more stops below), some buy orders are tipped at 1.2520-25, followed by mixture of bids and stops at 1.2500.
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Mid-Day Report: Dollar Digesting Gains after Solid ADP Job Data Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 14 12:53 GMT
Dollar pares back some gain in early US session after release of employment data. The ADP employment report showed 213k growth in private sector jobs in September, above expectation of 204k. Nonetheless, traders are getting a bit cautious ahead of the more important events later in the week. That include ECB press conference tomorrow and US non-farm payroll report on Friday. At the time of writing, dollar index is hovering around 86 and maintain clear near term bullish outlook. The greenback is in intraday consolidation against Euro, Swiss Franc, Yen, Aussie and Loonie and there is no sign of topping yet.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 14 09:44 GMT
EUR: The single currency has remained under pressure after falling to 2-year low yesterday, however, bids are still noted at 1.2570-80 and in good size at 1.2540-50 (more stops below), some buy orders are tipped at 1.2520-25, followed by mixture of bids and stops at 1.2500. On the upside, offers remain at 1.2640-50, 1.2665 and 1.2680-85, sizeable sell orders are reported at 1.2700-10, 1.2725-35 and 1.2750-60 (stops above 1.2765), selling interest is expected at 1.2785 and 1.2800. Option expires today include: 1.2600 (huge), 1.2650 (1 bln), 1.2700 (large), 1.2750 (over 1 bln), 1.2775 (large) and 1.2800 (huge).
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Daily Report: Yen Breached 110 after Mixed Tankan, Aussie Lower on Retail Sales Print E-mail
Market Overview | Written by ActionForex.com | Oct 01 14 05:02 GMT
Yen weakens against the broadly strong dollar with USD/JPY breaching 110 handle. The Tankan survey overall showed mixed sentiments in Q3 and provided little support to the yen. The large manufacturing index improved from 12 to 13 versus expectation of 10. However, medium and small manufacturing indices both deteriorated to 5 and -1 respectively. Large non-manufacturing index dropped from 19 to 13 versus expectation of 17. Medium and small non-manufacturing indices also deteriorated to 7 and 0 respectively. Large, medium and small all industries indices dropped to 13, 6 and 0 respectively. Nikkei is little changed after the release and fluctuated between small gain and loss in the Asian session.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Sep 30 14 14:33 GMT
EUR: The single currency dropped to 2-year low on soft Eurozone inflation data, bids at 1.2660-65, 1.2650, 1.2620-25 and 1.2600 were tripped, however, some buy orders are reported at 1.2570 and in good size at 1.2540-50 (more stops below). On the upside, offers are lowered to 1.2640-50 and 1.2670, sizeable sell orders remain at 1.2700-10, 1.2725-35 and 1.2750-60 (stops above 1.2765), selling interest is expected at 1.2785 and 1.2800.
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