European shares climbed on Friday alongside US futures and Asian equities as market sentiment has been given fresh boost by reassuring economic data from both China and the US. Investors who already welcomed the fact that US retail sales strengthened in December have also been surprised by solid Chinese data which topped estimates. Despite an unchanged GDP for Q4 2019, solid improvements in Industrial Production and Retail Sales have driven benchmarks to record highs at the end of the week.
However, today’s game isn’t finished yet as investors will now switch their focus to the inflation report from the eurozone due later today, where many investors will get the ability to guess what could be the next monetary move from the ECB. The IBEX-35 from Madrid is currently the best performer in Europe with the market now challenging its first resistance at 9,690pts. A break-up of this level could extend the current rally towards 9,760pts on a short-term basis.
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.