Stocks traded higher, from Tokyo shares to US futures contracts, buoyed by rising risk appetite from investors at the beginning of the week. While last week’s vaccine announcement renewed bullish sentiment on most stock markets, another boost has been given over the weekend with the signing of the Asian trade deal on Sunday. Of course, investors welcomed the news as this trade agreement will involve some of the world’s biggest economies and most densely populated areas in the globe, but that is not all. Investors were also glad to see President-Elect Joe Biden’s adviser oppose a national US lockdown, despite surging virus cases. This announcement has been well received by most traders as it allows them to keep their eyes on the reopening of economies and, more generally, the end of the crisis. This bullish trading stance is likely to remain for a while yet as investors welcome reassuring macro data from China, Europe, and the US.
However, short-term price action sparked by rising volatility may still occur in Europe as Brexit talks get more fraught as we step ever closer to the latest deadline.
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.