European stocks are trading higher everywhere in Europe on Thursday, from Madrid to London, continuing the bullish trend started overnight in Asia. Investors’ trading mind has changed a lot since yesterday after a slew of big companies around the world beat estimates in their Q3 earnings, erasing concerns about slower global growth. Approximately 80% of S&P500 listed companies have beaten market expectation so far and traders also welcomed the fact that geopolitical tensions with Turkey were easing after President Erdogan told Washington he will make the current ceasefire permanent.
Today’s bullish movements may also be boosted by investors’ anticipation of further stimulus from today’s ECB meeting. Traders are buying stocks may want to take profit at the time of the ECB Press conference which could spark volatility spikes as well as a “buy the rumour, sell the news” phenomenon on EU assets. Today will see another bunch of Q3 results with tech giants like Twitter and Amazon as well as important French companies like Dassault, Hermes, Peugeot, Saint Gobain and Michelin, which is likely to have an impact on the CAC-40 Index in Paris.
Photo by Anthony Delanoix.
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.