European shares edged higher shortly after the opening bell today, despite a mixed and uncertain trading session in Asia. Markets are still recovering from this week’s fall-out, but it seems like sentiment remains solid following this week’s political events in Washington.
Stock prices are heading for a not-so-bad end of September after good news regarding the US-China trade dispute, which offset geo-political uncertainty. Investors welcomed the optimistic tone used by officials from Beijing and Washington after Chinese Foreign Minister Wang Yi announced the nation wanted to proceed with further US products purchases needed by the Chinese market. This, after China recognised Washington’s goodwill following President Trump’s decision to waive tariffs on Chinese products, nurturing hopes on both sides of a positive outcome of the talks set for Oct 10th-11th.
Stock prices are likely to stay supported if the current optimism on a trade resolution persists. Except for a directionless FTSE-MIB in Milan, all the other EU benchmarks are trading higher today. The best performance is that of the FTSE-100 as the UK’s main index benefits from the Pound Sterling drop. The pound lost ground following the BoE’s comments on negative impact a “prolonged high Brexit uncertainty” could have on monetary policy.
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.