Stock markets opened with no clear direction on Tuesday as most benchmarks remain in their consolidation phase following last week’s gains. Market sentiment is still bullish, especially after China Vice Premier Liu He confirmed progress was made during the last trade discussion with the US and that there was a good chance of reaching an agreement during November’s meeting in Chile. On the US side, Donald Trump also confirmed the positive signs and said he was hopeful of an agreement in November, which represents a strong bullish leverage to stocks.
With risks related to the trade war fading away, investors have switched their focus back to data and especially to corporate earnings which will provide them with more clues on how companies have dealt with the negative impacts of the US-China trade disputes in Q3. The current earning season shows good results so far, which indicates there may be enough space for an extended rally on stocks before Christmas if the current risk-on trading stance continues.
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.