European stocks are extending yesterday’s gains, following the trend set overnight in Asia as “risk-on” mood prevails. These bullish moves follow China’s release of a tariff exemption list for US products (food and lubricants), taking effect from September 17. Beijing is also considering extending this list to additional products imported from the US on the near-term basis. Also boosting sentiment was a tweet by the China Global Time’s editor saying that Beijing will soon implement a new set of measures aiming to ease the negative effects of the trade war, which will benefit both Chinese and US companies.
Photo by Paul Fiedler.
The best EU performer so far is the DAX-30 index, up almost 1% and moving towards 12,370.0pts. The Frankfurt market is currently registering its 6th day of gain in a row and is approaching the strong psychological and technical resistance of 12,400.0pts, where a correction may occur.
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.