European markets had a mixed opening on Friday as traders still struggle to gauge the real state of the US-China trade talks following mixed signals from both blocs. President Trump said they were making progress with the talks with China set to implement tariff waivers for US agricultural products, which is perceived as a positive sign ahead of the 15th of December tariff deadline. However, the Chinese government also issued countermeasures against US diplomats, putting several US officials on a restricted entity list as part of a retaliation plan over Washington’s Hong Kong bill. While trade talks remain the biggest driver on stocks, investors will cautiously assess the state of the US job market from today’s NFP report. Volatility spikes are to be expected as most investors foresee 183,000 jobs added in November, one of the largest forecasts in 2019. Figures below that level will disappoint investors and pave the way for further help from the Federal Reserve. This should benefit stocks and kill trading enthusiasm on the US Dollar.
The French CAC-40 Index is currently one of the best performers in the eurozone after prices rebounded above the 5,795pts/5,800pts level. The market will however have to clear the 5,835pts zone in order to unlock an extended rally towards 5,885pts and 5,950pts.
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.