European markets ticked higher on Thursday alongside US futures as hopes of recovery continue to drive market sentiment higher. Joe Biden’s team managed to reassure investors after announcing a further $2 trillion relief plan to the Congress, which had an immediate bullish impact on the three main US benchmarks. Furthermore, it may still be the beginning of a new “risk-on” trading phase as investors look forward to hearing more details from Biden’s economic package, which is due later today. Even if most markets are drifting on a very short-term basis, it seems hopes brought by this fiscal boost and the global rollout of vaccines are offsetting valuation fears.
Meanwhile in Europe, carmakers, banks, and tech shares are the best performers and most benchmarks remain positive. On the flipside, Carrefour is one of the worst performers after the French government opposed Couche-Tard’s bid for the French group. The CAC-40 Index is still trading well above 5,600pts today even if both the bullish pressure and market directionality are slowing.
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.