European share markets edged higher on Monday, with investors catching up with last week’s late rally on Wall Street and market sentiment being boosted over the weekend. The main good news came on the virus front after Italy, France and Spain registered significantly lower deaths as well as new cases, which paves the way for an easing of the lockdowns in many areas. Investors obviously welcome the fact that nations are moving forward with reopening of their economies, but may want to make sure the peak has clearly passed and the risk of a second wave has been successfully mitigated and the virus contained before increasing their exposure to risk. We expect rising volatility this week as most investors switch their focus back to data ahead of a busy week which promises new monetary policies from the BoJ, ECB and the Fed as well as GDP figures from European nations and the US.
The Milan stock market is proving to be one of Monday’s best performers after Italy dodged having its rating downgraded by Standard & Poors. The FTSE-MIB Index remains inside its mid-term consolidation zone, which is 2,850 points wide, but did manage to clear the important short-term level of 17,000pts and is now challenging its first technical resistance at 17,200pts before the upper band of the trading range at 17,830pts.
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.