The Brexit saga continues to set the pace for share and currency markets in Europe on Wednesday. Stocks and sterling both opened slightly lower as these assets are retracing yesterday’s gains following the announcement of a draft Brexit deal nearing agreement between Brussels and London. Today’s retracements are explained by both profit taking and a short-term shift in sentiment arising from the latest declaration of the Democratic Unionist Party in Northern Ireland which said, “chances of a Brexit deal are low”.
Technically speaking, this ongoing state of flux is displayed by high volatility levels in Europe, especially towards FX markets like EUR or GBP. The impact of Brexit talks remains limited on stocks so far as the current rally of this asset class is still strongly linked to the recent trade war developments, the monetary policy of Central Banks as well as the important earning season where many big US banks already surpassed forecasts yesterday.
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.