European stock markets continued their consolidation on Wednesday, following an Asian trading session without clear direction. Even if global fiscal and monetary stimulus provided investors with some sort of insurance against deeper market corrections, the current busy macro environment makes short-term market predictions very difficult for traders. The current lack of market directionality is of course related to some profit taking moves but that is not the only factor. Between today’s Fed statement, the recent resurgence of the coronavirus, national data and corporate earnings, market operators have a lot to digest this week. We expect volatility levels to be on the rise at the end of the week as investors, monitoring these new data, will try to gather further evidence on where the economy is actually going.
The best performance comes from Paris as the CAC-40 Index is trading well above 4,900pts and is closing on 5,000pts. The French benchmark’s volatility is likely to rise significantly today with important companies like Unibail-Rodamco-Westfield, Sanofi, and Schneider Electric publishing their 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.