Share markets opened mostly flat in Europe for the end of the week as benchmarks consolidate gains registered during Thursday’s bullish session following the higher-than-anticipated US job report, while the US remains shut for holiday. The recent batch of solid macro data from different economic zones (US NFP, Chinese Industrial Production, EU PMIs) as well as encouraging trial results of a coronavirus vaccine, completely offset fears of a second wave, despite record infection numbers in some areas.
However, with the prospect of an extended virus crisis fading, investors’ focus is likely to be driven back to the US-Sino relationship, which has been strained since the validation of the “phase-one” deal at the beginning of the year. This remains one of the largest bearish factors still weighing on market sentiment, although it has not yet had a significant impact on prices as most traders remain optimistic of a positive outcome between the two blocs. Today’s session is likely to stay calm and quiet, with no significant macro data release in sight ahead of the weekend. However, small market corrections could take place today as markets may return to test yesterday’s break-out levels, as new support.
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.