Shares are climbing in Europe despite a mixed trading session in Asia. Investors are still digesting the latest trade talks news as President Trump doesn’t seem to be in a hurry to solve the dispute with China. However, this isn’t having a significant impact on stock prices at the moment; market sentiment seems upbeat as most traders maintain their focus on what they expect will happen at the end of the week.
EU flash PMI data is due tomorrow, but most investors are awaiting the Jackson Hole meeting during which Jerome Powell’s speech will be scrutinized for more clues on monetary policy, especially after President Trump called for another “big” interest rate cut. The G7 meeting in France, where world leaders are to discuss the weakest global growth since the financial crisis, will also be very important as investors will pay attention to possible structural reforms to tackle a global slowdown.
Photo by Soroush Karimi.
In Europe, Carmakers are leading the board helping the Eurostoxx-50 index to move higher today. But while the market is trading higher prices remain capped by the strong 3,375.0pts resistance level, the last one before 3,400.0pts.
Italy’s political turmoil, after Prime Minister Giuseppe Conte’s resignation yesterday, doesn’t seem to scare traders as the FTSE-MIB index of Milan is registering the best performance of the Euro-zone with prices trading well above 20,600.0pts at 20,760.0pts currently. The next resistance level is located 100-points higher around 20,860.0pts while the first available support is slightly above 20,730.0pts.
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.