Shares opened mostly higher in Europe following strong bullish momentum from the Asian trading session on Tuesday. Yesterday’s reassuring manufacturing PMIs in Europe followed by positive data in the US combined with lower virus cases in some states, have lifted global market sentiment higher. In addition, the current risk appetite is also sustained by fresh hopes of further stimulus in the US as President Trump is said to be considering extending unemployment benefit.
Even if carmakers and the banking sector are among the best performers in Europe today, investors remain very attracted to tech shares following positive earnings reports last week. This sector could be qualified as a “safe haven” for stocks as it has been one of the least impacted by the Covid-19 pandemic as tech companies and the services they offer remain well adapted to a work-from-home economy. However, despite the current very short-term bullish mood, most benchmarks will have to clear significant technical resistances before putting an end to the consolidation, re-start their bullish rally and register new highs.
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.