European markets opened mixed on Tuesday following losses registered in Asia on low volumes overnight. The current lack of direction on stocks can be explained by both the summertime period and investors awaiting further clues on the health of the U.S. economy after China showed signs of stabilization yesterday. The U.S. Retail Sales data due today will offer more information and is likely to have a strong impact on stocks and on the US dollar.
Photo by Markus Spiske.
In Europe, investors will be looking at the German ZEW Economic Sentiment which should also boost volatility and set the pace for the rest of the day. More broadly, an optimistic mood continues to support stock markets as investor rely on a few bullish leverages.
Among them is the expected progress in the trade situation between the Washington and Beijing as Steven Mnuchin said he and a Robert Lightizer could soon travel to China for further talks but also recent dovish moves from central banks to be confirmed in the next few days and solid economic data from China which is seen as a stimulus to global growth. As earnings season continues, investors will keep an eye on financial results from banking giants such as Goldman Sachs and JP Morgan later today.
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.