Stocks are drifting lower in Europe this morning, alongside US Futures, as investors faced disappointing earnings, rising geopolitical tensions and Brexit uncertainty following yesterday’s vote in the British Parliament. A global rout in tech shares has been sparked by Texas Instrument’s Q3 results Q4 forecasts. The American tech giant disappointed investors with an 11%drop in Q3 sales and with Q4 revenues estimates significantly below market expectations.
In Europe, market sentiment was also hit by Swiss Industrial ABB, which missed Q3 forecasts and posted a major loss for the quarter, on the back of a 15% decline in net income. In the UK, investors are in standby as they await a decision from the EU of whether to grant another Brexit extension.
Photo by Elliott Stallion.
All these factors are prompting traders to reduce their exposure to stock markets and take some profits after the solid rally observed this month. However, the bullish trends remain valid and more moves are likely after tomorrow’s ECB meeting which may product further monetary stimulus.
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.