Equities are moving higher in Europe this morning following gains registered by Asian benchmarks overnights. Traders are still weighing trade tensions following the last comments on the topic from President Trump who said at the end of last week that the September talks could be “cancelled” before adding that “the U.S. is doing very good but is not ready to make a deal with China”. These words have paradoxically boosted market sentiment this morning as they lifted expectations for further central bank easing as investors hope the FED will sustain the economy if the dispute keeps deepening between the two blocs. Traders’ attention is likely to be drawn to economic data this week with the highly anticipated U.S. CPI release on Tuesday, one of the most observed data by the FOMC, as well as the German ZEW Economic sentiment in Europe.
For now, European benchmarks still struggle to get a clear direction despite bullish moves in early trading. The stoxx-50 index will have to clear the 3,365.0pts level before heading to the next resistance located at 3,375.0pts. The DAX-30 index shows a similar configuration as prices continue to flirt with the strong technical level of 11,800.0pts. The best performance is that of the French CAC-40 index, which went back to the 5,385.0pts zone shortly after the opening bell. A clearing of this zone could potentially drive prices higher to 5,430.0pts whereas a fall below 5,385.0pts is likely to take the market back to 5,320.0pts.
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.