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    Asian equities could take a boost after strong gains seen on US equities

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    USDMYR Technical Analysis

    USDMYR Technical Analysis

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    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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Shares opened lower as fear grows over US response to China’s stance in Hong Kong

Pierre Veyret
May 29, 2020
in Economy, Markets, Opinion, World
Reading Time: 2 mins read
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Shares opened lower as fear grows over US response to China’s stance in Hong Kong

Photo by 🇨🇭 Claudio Schwarz | @purzlbaum.

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Shares opened lower throughout Europe as uncertainty rises ahead of what may prove to be an eventful day. Even if simmering Sino-US tensions are nothing new to investors, the relationship between the two blocs has now become the biggest source of uncertainty to markets. President Trump is set to hold a press conference later where he is expected to lay out the US response to China’s stance in Hong Kong. This has sparked fresh concern for investors, who fear a further escalation in tension between the two nations will put the phase one trade deal, as well as any future political or economic relationship, at risk. Investors will be hoping for clues as to the next move by the Federal Reserve when Jerome Powell as the FED’s chairman, is expected to participate in a virtual discussion today. Having said that, it is not surprising investors wanted to secure part of this week’s rally by taking some profit, ahead of today’s important news.

The DAX-30 index has registered the worst performance in Europe so far even if the market remains above 11,600 pts. Technically, today’s bearish move doesn’t really threaten the underlying bullish trend and may be a simple correction, the next target remains at 12,145 pts. However, a break-out of the 11,530-pts short-term support level today could lead the market to a deeper corrective move towards 11,230 pts and 10,965 pts.

Tags: DAX-30FEDHongKongJerome PowellPresident TrumpUS-China tension
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Pierre Veyret

Pierre Veyret

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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