It is D-Day for European stock traders and most benchmarks are already trading higher ahead of the highly anticipated ECB meeting, during which Mario Draghi is widely expected to boost market sentiment by proceeding with a rate cut and detailing a new set of measures to sustain the euro zone economy. But high expectations also mean high chances of disappointment and many investors still don’t believe Draghi will take any steps in his last meeting as ECB’s Chairman. This could potentially lead to volatility spike and significant price action on EUR markets.
Photo by Meredith Petrick.
In the meantime, investor appetite for “riskier assets” has already increased overnight, after President Trump provided China with a goodwill gesture by delaying the next round of tariff over 250Bln USD of Chinese goods, from the 1st of October to the 15th. China welcomed this move from Washington and is now said to be considering US farm imports, including purchase of Soybean and Pork. These goodwill gestures from both sides are being welcomed by investors as they confirm the de-escalation of the dispute, however, they do not represent a significant improvement. The two blocs are still currently having high-level discussions towards a final trade deal and further developments will come soon.
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.