Shares opened higher everywhere in Europe on Thursday with all sectors up on the Stoxx-600 index, extending yesterday’s gain. The appetite for higher-risk assets remains high and is even offsetting last week’s sell-off due to the coronavirus and its short to mid-term impact on China’s economy, as well as its commitments regarding the freshly signed phase-one trade deal with the US. This optimism has been given another boost on Thursday after Chinese officials confirmed another tariff cut by 50% on $75 billion of US goods, effective this month (Feb 14), which lifts further uncertainty surrounding international trade.
Photo by Mathias Konrath.
Meanwhile in Europe, Christine Lagarde said this morning downside risks for the Eurozone were reducing and growth was in-line with the ECB’s expectations. However, the ECB also warned the low interest rate and low inflation environment has significantly reduced the Central Bank’s scope to ease monetary policy in the case of an economic downturn, which could be threatening in the medium term. Further volatility is to be expected on share markets prior to tomorrow’s German Industrial Production data as well as the US job report for January where analysts and economists expect solid data.
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.