Global equities jumped this morning while safe haven assets like the Japanese Yen, Gold and 10-Years U.S. Treasuries retreated as investors regained their appetite for risk assets. This shift took place after China’s announcement that trade talks with the U.S. will continue in early October in Washington. This followed a call between China Vice Premier Liu He, U.S. Treasury Secretary Mnuchin and Trade Representative Lighthizer that “went well” according to Beijing. All European stocks are trading higher this morning with Carmakers registering the best performance, following the rally observed in Asia overnight, as stock traders welcomed the news
Also boosting sentiment, the last Fed’s Beige Book showed U.S. businesses remained optimistic about their near-term outlook as the U.S. economy is still expanding at a modest pace.
The only index trading lower today is the FTSE-100 in London, due to political uncertainty after Prime Minister Boris Johnson was defeated by Parliament in a bid to call for early general election prior to the Article-50 deadline in October. Investors’ focus is now likely to shift to U.S. data, as tomorrow’s job report and unemployment rate loom, as well as Jerome Powell’s speech, which may provide traders more clues about the Fed’s next move on monetary policy.
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.