European equities traded higher on Thursday, alongside Asian benchmarks, and Futures on the S&P 500, as optimism about a new US stimulus package continues to sustain market sentiment. Investors’ risk appetite continues to grow as US lawmakers move closer to a new deal, while yesterday’s minutes from the last FOMC meeting also showed further support from US central bankers may also be on its way and this is helping to drive stocks higher everywhere. It is interesting to note that while the EU already successfully reassured investors by providing an unprecedented fiscal and monetary stimulus response earlier this year, most EU stock traders are focusing solely on the latest developments in the US, despite record infection numbers being registered on the old continent (France, Italy and Spain). Increased market volatility is expected this afternoon as the ECB’s Monetary Policy Statement as well as the Initial Jobless Claims data in the US loom.
Today’s best performances come from Madrid with financial and energy shares leading the IBEX-35 Index higher, inside its major resistance zone around the crucial 7,000pts level.
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.