Stock markets had a mixed opening in Europe, with investors taking profits following new peaks reached yesterday on most benchmarks. Trading enthusiasm remains boosted by the removal of political uncertainty in the US and a reassuring economic outlook, but investors preferred to temper their exposure to riskier assets ahead of a busy day of macro news. Today’s bearish correction could be qualified as “technical” and “normal”, like a usual pull-back after most markets broke-out of major resistances yesterday. However, most investors now brace for a host of significant US economic indicators such as Core Durable Goods Orders, Initial Jobless claims, Q3 GDP and the highly anticipated FOMC minutes which could bring a few surprises.
In addition, oil markets and oil-related companies (airlines, miners, and cruisers) may also see higher volatility later in the afternoon with the Crude Oil Inventories data. There is a high chance market directionality will not be clear until investors have fully digested today’s latest slew of macro indicators.
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.