EUROPEAN SHARES
Equities traded slightly higher in Europe on Thursday. Benchmarks are still hovering around record levels, and market optimism remains high. Investors continue to bet on upcoming rate cuts from central banks around the world, and this confidence is clearly reflected in the market at the moment. The recent dovish hints provided by ECB and FED officials, combined with a reassuring inflation trend, is what is driving market sentiment at the moment. Even if some indices are already trading in uncharted territory, it seems that no one wants to exit the bullish train, driven by a fear of missing out on the rally. That said, we expect the trend to slow down for the end of the week as the highly anticipated US PCE Price Index, the FED’s preferred gauge, looms on Friday. It is very unlikely that investors will make big moves ahead of crucial data falling during a bank holiday for many regions, such as Europe and the US. The STOXX-50 index is trading around the 5,100.0pts level, mostly supported by Consumer cyclicals, Energy, and Financial shares. The 5,111pts resistance is now in sight, while 5,090pts remain immediate support for the market.
Pierre Veyret – Technical analyst, ActivTrades
Source: ActivTrader
The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and as such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades (“AT”). The information does not contain a record of AT’s prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk.