European markets opened lower alongside US futures on Tuesday, following a rout triggered in Asia as Hong-Kong protests deepen and add to concerns over trade tensions and slower growth.
The technical as well as the macroeconomic landscape is making it a very difficult trading environment to deal with for traders during the traditionally low-volume month of August. Concerns investors have over the US-China trade dispute are now underlined by growing signs of its negative impact globally, as demonstrated by slower growth. In this uncertain environment, traders are likely to move their focus back to economic data in order to get rid of the “noise” surrounding markets and to base their trading decision on facts.
Photo by Waldemar Brandt.
While today’s US CPI release will be closely watched by investors as well as the Federal Reserve, traders will also keep an eye on this week’s Euro-zone GDP figures and Industrial Production from both the U.S. and China. For now, Banking and Industrial shares are leading decline in Europe as the Stoxx-50 index got back slightly over 3,300.0pts this morning. The DAX-30 index found support over 11,615.0pts, a technical zone which emerged as a support during the last market decline, while traders await the ZEW economic sentiment due later in the morning.
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.