Stocks traded slightly higher in Europe on Wednesday as investors brace for today’s crucial FOMC meeting. Even if stock markets have registered a strong and sharp recovery since March, helped by an unprecedented monetary and fiscal response, the momentum now seems to be fading as bearish drivers are starting to outweigh the bullish ones in investors’ minds. Renewed concerns about a second wave of the pandemic combined with difficult Brexit talks and simmering US-Sino tensions are among the black clouds darkening the markets’ sky at the moment.
All eyes will be on the Fed’s policy meeting today with bull investors desperately needing further impetus from Jerome Powell to continue the current rally and register new highs on stocks. While the FOMC is widely expected to maintain its dovish tone today, the question of how big the new potential stimulus measures will be is in everybody’s mind. Again, just like with the ECB a few days ago, sharp downside price action on stocks is likely to take place if the Fed disappoints today.
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.