European markets opened in the red this morning, alongside US Futures, as investors’ risk appetite is being shattered by the narrow results of the US presidential election. This is the worst scenario for investors as the close battle between the two candidates is likely to lead to contested results, with Donald Trump already saying he would go to the Supreme Court in the case of a Biden win, as well as a less legitimate President. In addition, investors expect the current uncertainty to weigh on markets for a bit of time, maybe days, as many states still have to count votes sent by mail prior to the election day.
Finally, other strong market drivers will continue to add to the current uncertain trading stance with a slew of US data due out today before tomorrow’s policy decision from the Fed and Friday’s US NFP. Having said that, no clear directional trend is expected for the end of the week, but these major drivers are likely to exacerbate market volatility on a very short-term basis.
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).
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.