Most European shares declined shortly after the opening bell before recovering minutes after. This volatile open in Europe is underlining investors’ state of uncertainty. The signing of the initial US-China trade deal hasn’t really impacted market sentiment, despite the expectation of the agreement having driven stock markets up almost everywhere in the globe for the past few months. Instead investors are preferring to stay cautious as there remains a wide distance between the two countries before Phase Two can be agreed. China needs more time before entering further talks with Washington as the nation must assess the effect of the Phase One deal first. In investors’ minds, this second round of negotiations is likely to set the pace on stocks and other risky assets for the first part of 2020 at least.
So far, the Stoxx-50 Index is edging slightly higher with carmakers the worst performer despite solid data in December. The DAX-30 Index is flying a bullish flag which could unlock further upward potential towards 13,500pts and 13,585pts by extension. The OMX-30 in Stockholm is also performing strongly so far with prices trading above 1,800pts.
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.