Most European benchmarks opened higher on Thursday, paring some of yesterday’s losses, as market sentiment gets a fresh boost from the corporate sector. Strong earnings reports from major companies like ASM International NV or Royal Dutch Shell have managed to reassure investors, temporarily at least, ahead of another busy day. There is also a possibility that investors are already betting on more dovish measures, in the shape of further monetary stimulus from the ECB meeting today, as Christine Lagarde may provide the Eurozone with more support following renewed lockdowns in the biggest economies. Of course, traders will also pay close attention to the US GDP data for the third quarter, as well as to a large new batch of corporate news, especially in the tech sector, with Apple, Amazon, Facebook, Twitter and Spotify reporting results today.
Today’s light rebound is mainly driven by real estate and tech shares while the Stoxx-50 index, still impacted by this week’s bullish pressure, is struggling to stay above the 2,945 pts very-short-term support level.
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.