European stocks edged higher on Thursday following gains in Asia overnight after U.S. indices hit record highs at the end of the trading session. These bullish moves took place after Jerome Powell confirmed June’s job data didn’t change the Fed’s outlook as global uncertainty caused by the trade war with China remains. The FOMC minutes published after the Fed’s Chairman testimony showed a rate cut could still be appropriate in the ‘near term’ if the incoming data showed further deterioration. However, the market is already pricing in such a cut and investors now wonder whether it is going to be a 0.25% or a 0.5% one.
Volatility will likely increase with the release of the CPI data from the US later today as these numbers are closely watched by Fed’s members.
In Europe, traders will pay attention to the ECB’s minutes of the June meeting due today. They come at an interesting time for the European Central Bank as investors will be curious to see if Mario Draghi’s dovish turn will be confirmed or not. For now, the Stoxx-50 index is trading slightly above the 3,500.0pts while the DAX-30 index remains steady over 12,350.0pts.
Photo by Mathias Konrath.
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.