Asian shares and US Futures rose overnight while European markets also opened in the green, with benchmarks boosted by the tech and healthcare sectors. Investors remain uncertain about the future of the US presidency and more broadly about the future of the US economy as a divided Congress and Senate would prevent any of the two candidates to proceed with what they promised in terms of reforms and further stimulus aid. Investors are struggling to cope with the current unpredictability and now tend to diversify their exposure by betting on defensive stock sectors as well as Treasuries and even crypto markets.
Technically speaking, most benchmarks confirm their short-term sharp rebound inside their mid-term bearish trend, trading close to the upper band of their bearish channel where they now face strong resistance. Market operators will cautiously follow reporting on the US election vote as well as the FOMC meeting due later today, where Jerome Powell may give more clues on monetary policy.
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.