European stocks drifted lower on Wednesday alongside Asian shares and US futures. As expected, Tuesday’s first debate between Joe Biden and President Trump was intense and chaotic. This brought an increase in market volatility on riskier assets as most investors now expect a tougher battle between the two candidates and a hotly contested vote in November. Meanwhile, investors were slightly reassured by good numbers from Asia this morning after Chinese PMI topped estimates, however, most of them will switch their focus to today’s busy schedule with the highly anticipated EU CPI release later this morning as well as this afternoon’s US ADP employment numbers, US Q2 GDP and US Pending Home sales.
In addition, traders of energy shares may also face higher market volatility in the afternoon as the IEA Crude Oil inventories release looms. While all these short-term market drivers are likely to continue impacting prices and volatility, we expect the long-term market directionality to come from positive or negative updates on either further US stimulus or vaccine developments.
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).
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.