Shares drifted lower at the beginning of the European trading session on Tuesday as market sentiment remains weighed down by increasing uncertainty, despite encouraging Chinese data overnight. Investors’ risk appetite is on hold today following delays and difficulties in the development of a vaccine from Johnson & Johnson, while infection numbers keep on increasing everywhere.
In addition, stock traders are becoming ever more disappointed by the failure of the US administration to deliver a new deal on further stimulus measures and must deal with the uncertainty of the upcoming presidential election. Having said that, and after yesterday’s rally on techs, many investors may choose to temper their exposure to stay on the “safe side” ahead of the earning season and its usual higher market volatility. With this in mind, investors’ attention will be focused on the financial sector with Citigroup, JPM and Blackrock all publishing their results today. There is unlikely to be any significant sell-off today as tech stocks are likely to offset any losses in the travel and leisure sector triggered by vaccine delays.
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.