Global shares drifted significantly lower at the start of the week as market sentiment is weighed down by renewed virus fears after a new strain of SARS-CoV-2 emerged in the UK. This new variant, far more easily transmittable than previous strains, has had an immediate negative impact on riskier assets around the globe, even offsetting the recent reassuring news on both vaccine deployments and economic stimulus packages. Unsurprisingly, Travel & Leisure as well as Energy shares lead declines in Europe today, as traders move to hedge portfolios by increasing exposures in safe havens such as gold and silver.
The trend may continue further today as no major data release or news is expected by investors, and most are likely to wait for evidence that current vaccines will still work against this new variant before going back to stocks again.
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.