European stocks fell alongside Asia shares overnight and US futures are currently pointing to a lower open. This sell-off took place after the surprising announcement from President Trump that the U.S. will proceed with an additional 10% tariff hike over the remaining $300 billion of Chinese goods coming to the U.S.. When explaining the reasons behind such a hike, Donald Trump said he thinks President Xi Jinping wants to reach a deal, but things are not moving fast enough.
Photo by Renan Kamikoga.
An immediate price reaction has been noticed on global stock indices as investor sentiment has been smashed following this week’s disappointing FED and fears of a new cycle of escalating tensions between Washington and Beijing. Markets are becoming significantly volatile ahead of the last big event of the week: the non-farm payroll report due in a few hours. Today’s job report is expected to be lower than the previous one (previous 224K vs expectations 160K) which could paradoxically play the game of stock traders as it would induce the FED to move closer to another cycle of rates cut.
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.