Share markets around the world edged significantly higher on Tuesday, extending yesterday’s gains, ahead of today’s highly anticipated meeting of the finance chiefs of the G-7. This teleconference is likely to be today’s main event as investors desperately wait for a strong and coordinated policy response to the growing impact of coronavirus. There is clear expectation of a new fiscal and monetary policy, but no one knows exactly how big the new set of measures will be. President Trump keeps on pressuring the Federal Reserve to proceed with significant easing and rate cuts while the President of the ECB Christine Lagarde also want a strong reaction from central banks. The current rally on risky assets is very short-term and is likely to be driven by high expectations from investors ahead of this financial meeting.
However, finance chiefs and central banks can still surprise traders by topping estimates in the size of their new set of fiscal and monetary measures, which could lift share markets further around the globe. The best performance is coming from Frankfurt where the DAX-30 Index bounced back above 12,000pts. Prices are challenging their first major resistance below 12,170pts-12,220pts while the 55-day moving average is already registering a trend reversal. Next upward targets are located at 12,500pts, 12,755pts and 12,975pts by extension.
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).
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.