European share markets registered a slight rebound on Tuesday, following Monday’s sell-off, while US futures and Asian stocks kept on trading lower led by the financial sector. Even if there are now numerous bearish market drivers, rising Covid-19 numbers in several countries and uncertainty over further US fiscal stimulus are the most important ones in investors’ minds. Investors fear prolonged and renewed Covid-19 restrictions, especially in the UK and the rest of Europe, could lead to another sharply negative impact on demand in many sectors for the rest of the year, and this is strongly affecting this week’s market sentiment.
In addition, increasing market volatility is giving more opportunities to short-term traders but also kills market directionality and reduces clarity for mid to long-term investors. This situation is likely to continue as the US presidential election draws ever closer. Today’s market agenda is not very busy, but most investors will have their eyes on Jerome Powell’s speech before members of the Congress later in the afternoon.
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.