European benchmarks edged higher on Monday, following the trend of the third week of December traditionally proving a bullish one, as investors welcomed macro news. Most markets are now back on track to record fresh highs before year-end after investors welcomed vaccine deployments with this positive news offsetting any negativity about renewed lockdown looming in places like Germany. In addition, the risk-on sentiment is also being carried by positive talks on both the $908 billion US relief package as well as the extension to Brexit discussions in Europe, confirming UK-EU leaders’ will to avoid the “no-deal” situation. However, even if the risk-on trading stance is alive and well today, most investors will be cautiously monitoring tomorrow’s data from China (Industrial Production and Retail Sales) which should provide them with more clues about the true state of the world economy. Furthermore, investors are also bracing for a busy week on the monetary side as central banks from Mexico, Switzerland, Japan, Russia, and the Fed in the US are all set to announce updates on their monetary policies.
The FTSE-100 Index in London is one of the only benchmarks flirting with the red territory after stock prices have been impacted by sterling gaining strength. The index remains well set above 6,530pts with the target of 6,775pts still in sight.
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.