Eurozone share markets from Stockholm to Madrid opened higher on Wednesday as bullish momentum over riskier assets gained a fresh boost from Washington. Investors welcomed the progress made in discussions between US Republicans and Democrats about a new recovery package, especially after the US Treasury Secretary said he wanted a deal reached by the end of the week. In addition, investors were also pleased to see Washington and Beijing re-thinking their trade deal with each other after a significant rise in tensions over the past few weeks and months.
However, market predictability is becoming more and more difficult for traders and analysts. The appearance of multiple different market drivers pulling stock prices in different directions is now making financial markets much less directional and harder to read on the short-term outlook than was the case a couple of weeks ago. Just like 2019, there is a high chance investor will focus on the outcome of US-Sino discussions over a new trade deal while keeping an eye on macro data with US NFP looming on Friday.
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.