European markets opened mixed following a decline in Asia overnight, as investors brace for what is going to be a very busy trading week. The focus will be on the U.S.-China trade talks resumption this week. Expectations are high but some remain sceptical that a ‘grand deal’ might be reached. However, potential progress towards crucial points such as the HuaWei case would certainly reassure investors on the two bloc’s goodwill to reach a deal.
Traders will also have their eyes on the next FOMC meeting, ahead of Friday’s U.S. job report. The expectation of a 0.25 basis point rate cut by the FOMC this week is likely to support stock markets until Jerome Powell’s press conference, during which volatility spikes are expected as his words will certainly provide clues on the trajectory of U.S. rates.
For now, the stoxx-50 index is trading well above 3,500.0pts, at 3,520.0pts currently, with prices trying to recover after Friday’s sell-off. The DAX-30 index always strongly linked with the U.S. – China trade talks developments, is trading sideways this morning as Automakers are driving the decline Europe. The market is now trading towards 12,400.0pts following a fall below 12,430.0pts. The next support zone is located around 12,370.0pts on a short-term basis.
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.