Stocks opened mostly lower on Thursday in Europe amid weaker market sentiment following mixed developments on multiple fronts. Rising US-Sino tensions, increasing virus cases on the old continent and the recent batch of mixed macro data are some of the clouds darkening the sky for investors at the moment. As previously said, there is no surprise to see investors reducing their exposure to risky assets and/or use safer havens as diversification tools when uncertainty rises. The “wait and see mode” continues and market operators are likely to patiently wait for further bullish drivers before driving stock prices higher. However, while macro data and recovery packages remain important, failure from EU governments to contain a second virus wave could pose a serious threat to the economic recovery, leading to important downside risks for markets as a W-shaped evolution is still possible.
The Industrial sector is saving the day on European assets despite the current mixed trading stance. The DAX-30 index brings the best performance of the Eurozone, thanks to Siemens after the company published a solid +8% earnings, beating analyst estimates.
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.