All European benchmarks are trading significantly higher on Tuesday, keeping up with the pace of Asian markets, as a “risk-on” trading stance is clearly back on track. The surprising positive change in tone from Beijing about its relationship with Washington, as well as some improvement seen recently in coronavirus hotspots in the US, has boosted bullish momentum. Chinese leaders expressed their wish to ease tensions with the US, despite the recent retaliation measures taken by Beijing, lifting market sentiment overnight.
Technically speaking, European markets are now clearing major resistances that were capping prices for the past ten days, unlocking a new bullish potential with last month’s highs in sight. All sectors are trading higher with carmakers, retailers and financial shares leading the way in Europe this morning, while safer havens weigh on strong risk appetite. Investors will maintain their focus on the German ZEW Economic Sentiment due later this morning while this afternoon’s US PPI data may bring further volatility to stocks for the end of the trading session in Europe.
While a student, Pierre Veyret had a passion for the financial markets. At the time, he studied International Trade through the setting up of import / export operations and it was the techniques of hedging against exchange rate risks that helped him to make the link with the financial markets, and all especially that of Forex. It is therefore with the aim of anticipating the price of currencies several months in advance that Pierre quickly turned to different methods of analysis by drawing inspiration and surrounding himself with experts in the field. Shortly after, Pierre decided to specialize in Technical Analysis, a discipline he had the opportunity to practice with real market professionals, thanks to AFATE / IFTA, an association of which he has been an active member for several years. Pierre Veyret is passionate about the field of the financial industry with a particular interest in the various techniques of stock market forecasting. Currently, Pierre is based in the City of London where he works as Chief Analyst. He performs regular interventions on a multitude of asset classes through various media (television, internet and print media).
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© 2019 High Leverage FX - All Rights Reserved.