Stock markets opened lower in Europe, as risk appetite wanes on the last trading day of the month. Investors are choosing to temper their exposure to risky assets following a 13% rally on equities in November and ahead of another busy week of macro news. Energy shares are leading declines this morning after OPEC failed to decide on oil supply ahead of today’s full virtual meeting. Elsewhere, banking, and small caps are also among the worst performers with investors taking some profit following this month’s rally and prior to this week’s busy agenda with the US NFP looming on Friday.
In the meantime, tech shares have shown more resilience on Cyber Monday. Today’s pull-back is more likely to be “technical” than really threatening to market as the global economic recovery remains on track and confirmed vaccines keep on lifting long-term uncertainty. With that in mind, there is a high chance that investors will rely on macro news to adjust their trading strategy until the end of the year. More market volatility is expected on oil markets today with a possible agreement from the OPEC meeting on oil output, which should also have a significant impact on oil-related shares including the travel & leisure sector.
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.