European contracts traded lower on Thursday as market sentiment remains uncertain ahead of today’s slew of corporate results. The Fed’s extremely dovish tone yesterday was already largely priced in and did not lead to extreme price action on stock markets. Even though Jay Powell pledged to keep the macro environment extremely accommodative using all the tools at his disposal, it also highlighted the fact that growth is still a long way off pre-crisis levels. Investors now need to make sure the economic recovery is well on its way and that is what makes today’s earning reports so important.
While European investors will cautiously monitor results from Airbus, Total and Vivendi, traders from around the globe will await reports from US tech giants like Apple, Alphabet and Amazon. These results are seen as key indicators and would present a serious downside risk if they were to disappoint investors. On the flipside, positive news from these companies would certainly help sustain market sentiment, turning the recent bearish correction into the market taking a breath rather than a trend reversal threat.
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.