European markets opened mixed for the last trading session of the week as sentiment is weighed down by disappointing macro data from the two largest global economies, as well as by the recent fragility of the tech sector, which had been outperforming the rest of the market.
The risk-off mood has been gaining ground following yesterday’s discouraging US unemployment figures, while tech shares led a decline on the S&P500 after Netflix disappointed investors with fewer new subscriptions than estimated. These new bearish drivers indicate investors may have overpriced a quick and sharp recovery, especially in the tech sector, which now looks increasingly less likely to happen according to the new macro and virus numbers. This cautious trading stance is set to continue today as investors will maintain focus towards corporate earnings, continuing next week with many significant European companies reporting results.
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.