Stocks slid slightly lower in the old continent on Wednesday, following the trend set overnight in Asia, as a risk-off trading stance is emerging amid growing uncertainty. Even if most stock indices achieved fresh highs this week, boosted by the agreement on the EU recovery package, market sentiment is becoming increasingly weighed down by the battle between Republicans and Democrats over a similar deal in the US.
Today’s aversion to riskier assets is also motivated by mounting concerns over coronavirus, especially after Brazil and Australia reported record virus cases yesterday, almost offsetting this week’s positive development on a potential vaccine. Both market volatility and directionality are lower than the beginning of the week with investors waiting for today’s corporate results (Microsoft, Tesla) as well as the Crude Oil inventory report from the EIA to adjust their exposure to certain sectors and give benchmarks a clearer direction.
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.