European markets are edging higher today after investor sentiment has been boosted by a dovish Federal Reserve. Even if Jerome Powell remained confident over growth, jobless rate and inflation for 2020, he expressed concerns over rising uncertainties in the mid-term that increase the chances of a rate cut. The central banker then reassured investors by confirming the Federal Reserve “will act as appropriate to sustain the economy”.
As expected, this statement boosted the risk-on mood on financial markets, sending global benchmarks higher and driving the greenback lower. The market reaction was sharp everywhere around the globe as the statement was even more dovish than expected, traders are now pricing a rate cut for the next July meeting. The Stoxx-600 extended this week’s rally, led by Miners and Energy shares. The best European performance is being brought by the FTSE-MIB index in Milan where prices are trading towards a 6-weeks high.
Photo by Bill Jelen.
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.