The risk-off mood continues this week as stocks from Tokyo to London extend last Friday’s losses. This sell-off takes follows escalating concerns over the U.S. – China trade war, after Beijing asked state buyers to stop imports of American agricultural products, casting more and more doubts over a resolution of the trade dispute. On top of that, the PBoC depreciated the Yuan to a record low against the U.S. Dollar as the nation use every card in its hand to protect itself from the negative effect of U.S. tariffs.
Photo by Neonbrand.
For now, the market is still waiting for President Trump’s reaction which may come later in the day in the shape of a traditional offensive tweet towards China.
Elsewhere, the earnings season continues to roll with financial giants like Unicredit, AIG and ABN Amro Bank publishing their results today. Traders may also stay cautious this week with multiples decisions on interest rates pending from 5 Eastern central banks including India, Australia and New-Zealand as well as several speeches from FED policy makers like Goverr Lael later today.
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.