European shares opened lower in Europe in this last trading session of the week as markets still struggle to recover from Monday’s drop. Investors lack a clear view on stock markets as concerns linger that Beijing may proceed with further currency devaluations, making the market sentiment very uncertain for the end of the week.
In Europe, traders have also been concerned by the political situation in Italy after Matteo Salvini called for fresh elections as a clear majority no longer exist to support the Government. Banking and Automakers are leading the decline on European stocks. The Stoxx-50 index faces a strong resistance level at 3,360.0pts while the DAX-30 index is struggling to clear the 11,840.0pts level even after BAYER shares rose by 11% after an $8 billion proposed roundup settlement. Investors’ focus is likely to turn to the U.S. later in the day as everybody awaits the American Producer Price release for July in the afternoon.
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.