European markets had a mixed opening on Tuesday after the biggest sell-off of the first trading session of a year since 2016. Despite vaccines being deployed, record virus numbers in many areas as well as full lockdowns in a few hotspots, like England, are denting this week’s market sentiment. While many traders keep their eyes and focus on the end of the crisis, yesterday’s drops on most markets have underlined how fragile the current recovery still is. Today’s best performances come from retail and energy shares despite a lack of an OPEC+ oil supply agreement. Discussions are set to restart later today and should sustain the increase in market volatility on both oil markets and energy shares. Meanwhile investors are likely to return their focus back to data and fundamentals with today’s US ISM Manufacturing PMI for December as well as the US State of Georgia’s run-off election that will decide whether the Biden Administration controls the Senate or not.
The announcement of the full lockdown hasn’t significantly impacted stock prices in the UK, the FTSE-100 Index remains inside its bullish channel, slightly below the 6,600pts 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.