Share markets climbed almost everywhere this morning, extending yesterday’s gains, with market sentiment improving ahead of today’s FOMC meeting in the US. The “risk-on” mood seems to be back on track with investors focusing on yesterday’s positive US data as well as Apple’s solid results despite disruption caused by the deadly coronavirus. The Federal Reserve is highly expected to maintain rates at their current level, marking a pause to the recent dovish moves from Jerome Powell and providing a positive message about the soundness of the US economy to investors. This set of good news (data + earnings) provides further proof of a global growth recovery and offset fears sparked by the near-term risk of the virus in China spreading.
Banking and mining shares are the best performers so far in Europe with Santander and Vinci the top movers in the Euro Stoxx-50. The IBEX-35 Index in Madrid is at the top of the European board today with the market having closed the bearish gap opened at the beginning of the week. Prices are now challenging the 9,550pts resistance level, which is the first mark before the major one located below 9,640pts, which can only be breached if the market clears its short-term bearish trendline.
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.