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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 | Aug 13 14 10:23 GMT
EUR: The single currency slipped again in European morning after yesterday's selloff, however, defensive buy orders are reported above 1.3325 barrier (with stops below), fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure, some buy orders are tipped at 1.3285, 1.3265 and 1.3250. On the upside, offers are lowered to 1.3375-80, 1.3390-00 and 1.3420-25, more sell orders are still seen at 1.3445-70 area and 1.3475-80, followed by combination of offers and stops at 1.3490-00 and 1.3520-30. Option expires today include: 1.3325, 1.3335, 1.3340, 1.3350 (large), 1.3400 and 1.3410.
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Daily Report: Yen Soft after GDP, UK Events Watched Print E-mail
Market Overview | Written by ActionForex.com | Aug 13 14 04:20 GMT
The forex markets are rather steady as traders await a rather eventful day. Yen stays soft after Q2 GDP report. Dollar struggled to extend overnight's gain and retreated ahead of near term resistance against euro and swiss franc. Elsewhere, Asian equities are fluctuating between loss and gain and markets struggle to have a clear direction. US indices were mildly pressured yesterday but DJIA and S&P 500 both ended the day mildly lower only, paring much of earlier losses. UK will be a key focus today with job data and BoE inflation report featured. US will release retails sales.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 12 14 13:48 GMT
EUR: The single currency tumbled on soft ZEW data, bids at 1.3340-50 were filled, however, defensive buy orders are reported above 1.3325 barrier (with stops below), fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure, some buy orders are tipped at 1.3285, 1.3265 and 1.3250. On the upside, offers remain at 1.3390-00, 1.3420-25 and 1.3445-50, more sell orders are still seen at 1.3460-70 and 1.3475-80, followed by combination of offers and stops at 1.3490-00 and 1.3520-30.
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Mid-Day Report: Euro Tumbled as German ZEW Nose-dived Print E-mail
Market Overview | Written by ActionForex.com | Aug 12 14 13:24 GMT
Euro weakens broadly today after disappointment from German confidence data. The German ZEW economic sentiment deteriorated sharply from 27.1 to 8.6 in August, far below expectation of 18.2. That's also the lowest reading since December 2012. The current situation gauge also dropped sharply from 61.8 to 44.3, missing expectation of 55.5. ZEW said in the statement that "the decline in economic sentiment is likely connected to the ongoing geopolitical tensions that have affected the German economy by now." And, "the signs are that economic growth in Germany will be weaker in 2014 than expected." Eurozone ZEW economic sentiment also tumbled fro 48.1 to 23.7 versus consensus of 41.3.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 12 14 09:28 GMT
EUR: The single currency has continued to trade lower, bids at 1.3375 and 1.3360 were filled but some buy orders are still noted at 1.3340-50 and above 1.3325 barrier (with stops below), fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure, some buy orders are tipped at 1.3285, 1.3265 and 1.3250. On the upside, offers are lowered to 1.3390-00, 1.3420-25 and 1.3445-50, more sell orders are still seen at 1.3460-70 and 1.3475-80, followed by combination of offers and stops at 1.3490-00 and 1.3520-30. Option expires today include: 1.3340 (large), 1.3350 (1 bln), 1.3400 and 1.3425.
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Daily Report: Euro Steady in Range ahead of German ZEW Print E-mail
Market Overview | Written by ActionForex.com | Aug 12 14 05:54 GMT
The financial markets are relatively steady today so far. Asian stocks opened higher today but Nikkei pared back the gains and is trading up around 0.2% at the time of writing. That followed slight gain in DJIA by 0.10% and S&P 500 by 0.28%. In the currency markets, yen extends this week's pull back against other major currencies but against loss is limited. Improvement in sentiments was also seen in the strong recovery in USD/CHF. Fresh selling is seen in Sterling in Asian session today with GBP/USD dipping through last week's low. Meanwhile, Euro is mildly softer against the greenback as markets await German confidence data.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 11 14 13:29 GMT
EUR: The single currency traded narrow after retreating from Friday's high of 1.3433, bids are still noted at 1.3375, 1.3360 and 1.3340-50, buying interest is seen above 1.3325 (barrier with stops below), fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure, some buy orders are tipped at 1.3285, 1.3265 and 1.3250. On the upside, offers remain at 1.3420-25, 1.3445-50 and 1.3460-70, more sell orders are still seen at 1.3475-80, followed by combination of offers and stops at 1.3490-10 area, selling interest is tipped at 1.3520-30.
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Mid-Day Report: Forex Markets Stuck in Range Despite Improvement in Sentiments Print E-mail
Market Overview | Written by ActionForex.com | Aug 11 14 12:45 GMT
The forex markets remained steadily in range today so far and had little reactions to the rebound in stock markets. Global equities are broadly higher as tensions in Ukraine eased. European indices are generally higher with FTSE up 0.78%, DAX up 1.6% and CAC up 0.86% at the time of writing. US futures also point to higher open. Yen is mildly lower as risk aversion eased but loss is so far limited. Markets also had little reactions to the economic data released today. Canadian housing starts rose to 200k in July versus expectation of 194k. Swiss retail sales rose strongly by 3.4% yoy in June versus expectation of 0.7% yoy. Japan tertiary industry index dropped -0.1% mom in June, Money stock M2CD rose 3.0% yoy in July, consumer confidence rose to 41.5 in July, machine tool orders rose 37.7% yoy in July.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 11 14 08:21 GMT
EUR: The single currency retreated after surging to 1.3433 on Friday, however, bids are still noted at 1.3375, 1.3360 and 1.3340-50, buying interest is seen above 1.3325 (barrier with stops below), fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure, some buy orders are tipped at 1.3285, 1.3265 and 1.3250. On the upside, offers are now tipped at 1.3420-25, 1.3445-50 and 1.3460-70, more sell orders are still seen at 1.3475-80, followed by combination of offers and stops at 1.3490-10 area, selling interest is tipped at 1.3520-30. Option expires today include: 1.3350 (large), 1.3370, 1.3400 (large), 1.3435, 1.3450, 1.3500 and 1.3535 (large).
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Daily Report: Yen and Euro Lower and Sentiments Recovered Print E-mail
Market Overview | Written by ActionForex.com | Aug 11 14 06:49 GMT
Asian equities are broadly higher today as tensions in Ukraine eased for now. Nikkei rose 352.15 pts, or 2.38% to close at 15130.52, above 15000 handle again. Hong Kong HSI is also up over 300 pts at the time of writing. The positive sentiments followed the rebound in US equities on Friday after Russia said it had already finished the military exercises in southern Russia. And Russia is seeking to de-escalate the tensions. In the currency markets, major pairs and crosses are bounded in tight range as the week starts. yen and euro are generally lower while commodity currencies and sterling pared back some of last week's lost.
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Weekly Review and Outlook: Geopolitical Risks Rocked Markets, Faded Towards Weekend Print E-mail
Market Overview | Written by ActionForex.com | Aug 09 14 12:01 GMT
Geopolitical risks in Ukraine and Middle East were the main drivers in the financial markets last week. Global equities tumbled with DJIA hitting as low as 16333.78 while S&P 500 dived to 1904.78. Nonetheless, as Russia sought to de-escalate the tensions in Ukraine, stocks staged a relief rally on Friday as DIJA closed at 16553.93 while S&P 500 closed at 1931.59. Both ended the week higher indeed. US treasuries benefited from safe haven flows with 30 year yield extending recent fall to close at 3.226 while 10 year yield closed at 2.415, breaking May's low. In the currency markets, the Japanese yen and Swiss Franc were the biggest winners of the week on risk aversion. Dollar came next as the third strongest currencies. Commodity currencies were the weakest with Aussie and Canadian both additionally hit by respective employment data.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 08 14 14:10 GMT
EUR: The single currency traded with a firm undertone as dollar remains weak across the board, sell orders are still noted at 1.3410-25 area, mixture of offers and stops remains at 1.3445-50, more stops are placed above 1.3460, but sell orders are still seen at 1.3470-80, followed by combination of offers and stops at 1.3490-10 area, selling interest is tipped at 1.3520-30. On the downside, bids remain at 1.3340-60 region and 1.3325 (barrier with stops below), fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure, some buy orders are tipped at 1.3285, 1.3265 and 1.3250.
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Mid-Day Report: Sentiments Recovered as Russia Seeks Tension De-Escalation Print E-mail
Market Overview | Written by ActionForex.com | Aug 08 14 13:07 GMT
European indices opened sharply lower today on risk aversion after US President Obama authorized air strikes in Iraq if they move towards the Kurdish city of Erbil. Nonetheless, sentiments quickly reversed on news that Russia is trying to de-escalate the Ukraine tensions, just a day after president Putin declared he'd hit back on sanctions against his country. European indices pared back the losses and is trading flat at the time of writing. US futures also reversed and is pointing to a mildly higher open. Nonetheless, investors would likely stay cautious ahead of the weekend considering all of the geopolitical risks in Ukraine, Iraq as well as Israel. In the currency markets, the Japanese yen pared back some of the gains into US session but stays the strongest currency this week.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 08 14 09:03 GMT
EUR: The single currency jumped today on dollar's broad-based weakness as US President authorized airstrikes in Iraq, some offers at 1.3400 were filled but sell orders are still noted at 1.3410-25 area, mixture of offers and stops remains at 1.3445-50, more stops are placed above 1.3460, but sell orders are still seen at 1.3470-80, followed by combination of offers and stops at 1.3490-10 area, selling interest is tipped at 1.3520-30. On the downside, bids are raised to 1.3340-60 region and 1.3325 (barrier with stops below), fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure, some buy orders are tipped at 1.3285, 1.3265 and 1.3250. Option expires today include: 1.3200 (large), 1.3300 (large), 1.3330, 1.3400 (huge), 1.3425 and 1.3500 (over 1 bln).
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Daily Report: Yen Soared as Risk Markets Tumbled on Geopolitical Risks Print E-mail
Market Overview | Written by ActionForex.com | Aug 08 14 07:19 GMT
Yen surged further today as risk aversion sent Nikkei down -454 pts, or -2.98% to close at 14778.37. That's the biggest fall in 5 months and the index hit a 2-month low. It should be noted that the steep fall was also accompanied by strong volume, as futures volume hit the highest level in 6 months. In addition, to the tensions in Ukraine, markets are reminded of the geopolitical risks in Iraq again. US President Obama authorized air strikes in Iraq which might stir up even more tensions in the region. In the current markets, Swiss Franc and Euro were so far the second and third strongest currency this week. And commodity currencies are generally hit by the sour sentiments.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 07 14 14:46 GMT
EUR: The single currency dropped today especially after ECB, sell orders are still noted at 1.3400-10, mixture of offers and stops remains at 1.3445-50, more stops are placed above 1.3460, but sell orders are still seen at 1.3470-80, followed by combination of offers and stops at 1.3490-10 area, selling interest is tipped at 1.3520-30. On the downside, bids at 1.3350 were filled but buy orders in good size are noted at 1.3325-30, fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure.
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Mid-Day Report: Euro Stays Bearish after ECB Print E-mail
Market Overview | Written by ActionForex.com | Aug 07 14 13:21 GMT
Euro stays steadily bearish after ECB left rates unchanged at record low of 0.15% as widely expected. ECB president Draghi pledged in the post meeting press conference that the central bank will "closely monitor" the impact of geopolitical risks on the modest recovery in Eurozone. He noted that the fallout from the Ukraine crisis was "hard to assess". Regarding the economy, Draghi said that recovery was "weak, fragile and uneven" and recent data showed "slowing down in the growth momentum". The risks to recovery are "to the downside". Separately, BoE maintained the Bank rate at 0.50% and the asset purchase target at GBP 375b as widely expected. Only a brief statement was released and focus will turn to meeting minutes to be published on August 20.
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European Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 07 14 09:25 GMT
EUR: The single currency staged a strong rebound after falling to 1.3333 yesterday, offers at 1.3370-90 area were filled but sell orders are still noted at 1.3400-10, mixture of offers and stops remains at 1.3445-50, more stops are placed above 1.3460, but sell orders are still seen at 1.3470-80, followed by combination of offers and stops at 1.3490-10 area, selling interest is tipped at 1.3520-30. On the downside, bids are now seen at 1.3350 and in good size at 1.3325-30, fresh demand should emerge further out at 1.3300-10 with stops placed below another barrier at figure. Option expires today include: 1.3345, 1.3350, 1.3375, 1.3400, 1.3500 (large), 1.3510, 1.3590, 1.3610, 1.3615, 1.3640 and 1.3660.
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Daily Report: Risk Aversion Continues as Markets Await ECB and BoE Print E-mail
Market Overview | Written by ActionForex.com | Aug 07 14 05:15 GMT
Market sentiments continued to be weighed down by situation regarding Ukraine. US equities closed nearly flat with DJIA up 13.87 pts, or 0.08%, at 16443.34 and S&P 500 up 0.03 pts, at 1920.24. Asian equities, however, are broadly lower extending the third day of decline. Yen extends the rally against other major currencies. In particular with USD/JPY breaching 102.03 minor support, indicating prospect of further up side. Australia dollar was additionally pressured by the unexpected fall in employment and the sharp jump in unemployment rate. Euro and Sterling recovered against the greenback ahead of ECB and BoE announcement.
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US Session: Orders and Options Watch Print E-mail
Market Overview | Written by ActionForex.com | Aug 06 14 14:32 GMT
EUR: The single currency slipped again in European session but once again recovered after finding buying interest just above 1.3330, more bids are reported at 1.3325 and at 1.3300-10 with stops building up below 1.3300. On the upside, offers are noted at 1.3375-80, 1.3395-00 and 1.3420-25, more sell orders are tipped at 1.3445-50 with stops placed above 1.3460 but selling interest is expected at 1.3470-80, followed by combination of offers and stops at 1.3490-10 area.
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