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Daily market commentary: European markets opened modestly higher



OIL

Stocks are in green as risk appetite remains dominant on markets. Moreover, the US dollar is declining. All this is creating the perfect environment for oil, with both the WTI and Brent benchmarks gaining over 1%. Despite some temporary corrections the main trend still appears positive.

Carlo Alberto De Casa– Chief analyst, ActivTrades

daily market analysis

EUROPEAN SHARES 

European markets opened modestly higher at the beginning of the week, providing a mixed sectoral performance picture as gains in tech and banking shares offset declines from miners. Investors returned cautiously to their trading desk with uncertainty reigning following China’s crackdown on commodities and crypto markets, which sparked a significant increase in volatility. In addition, lingering inflation concerns as well as pick-up in virus cases in some areas are weighing on market sentiment. Even if stock markets aren’t technically threatened so far, investors are desperately waiting for some more clarity on how inflation worries will be addressed as well as how it could affect the future of the exceptional support from governments and central banks. Markets are likely to remain volatile and become less and less directional if uncertainty about these significant market drivers lingers.

Pierre Veyret– Technical analyst, ActivTrades


Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.

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Daily market commentary: European markets opened modestly higher

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