The euphoria on stocks continued into the last trading week before Christmas. This “risk-on” tone was further boosted after President Trump’s approval of the highly awaited “phase one” deal with China, with investors hoping for such an agreement before the end of the year. Market sentiment has also been lifted early this morning after Chinese industrial production beat estimates.
Photo by Marcin Nowak.
Elsewhere, investors also welcomed Boris Johnson’s re-election as Prime Minister, a victory that also provided the Conservatives with a clear majority in Parliament, which should finally allow the nation to get Brexit done by the end of January.
Investors who were awaiting short or mid-term clarity on the global outlook have now been served with two of the main drivers showing strong signs of improvement, paving the way for an extended rally on stocks before January. The Stoxx-50 Index registered a solid rebound over the crucial 3,730pts level, a zone that was previously offering a strong resistance. Prices will now have to clear the 3,765pts in order to reach higher tops, with the psychological level of 3,800pts in sight.
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).
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.