Shares rose almost everywhere across the world on Thursday, with most benchmarks registering recovery rallies following the highly anticipated comment from President Trump on Iran last night. Many traders welcomed the fact that Donald Trump, against all odds, softened his tone by preferring not to take any military response to the last Iranian attack, de-escalating the conflict between the two powers. This gave relief to stocks and other risky assets overnight, reviving market sentiment everywhere and registering a sharp decline on safe havens as a diplomatic solution to the conflict is now in sight. The current calmer geopolitical tone, if it lasts, will allow stock traders to switch their focus back to data, in order to assess the health of the US economy, with the December Non-Farm Payroll looming on Friday.
Meanwhile in Europe, the Stoxx-50 Index jumped following the opening bell, with almost every sector, except Energy and Real Estate, in green territory. The DAX-30 Index in Frankfurt is the eurozone’s best performer by far as the market is now trading above 13,500pts after having cleared resistance at 13,445pts. The 21-day moving average is now rising again and the current rally may be extended to 13,700pts and 13,890pts on a short-term basis if prices manage to clear the psychological and technical level (38.2% Fibonacci) of 13,500pts.
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.