Daily market commentary: Most EU shares open in the green, following an Asian session governed by a bullish sentiment

European Shares

Most EU shares opened in the green on Thursday, following an Asian session governed by a bullish sentiment, while US futures also climbed.

Market sentiment improved significantly, despite lower volumes due to US markets being closed for Thanksgiving today, following the minutes of the last FOMC meeting that hinted at tapering of interest rate hikes.

This news came alongside poor macro data on the business activity and unemployment front, highlighting the resurgence of the “bad news is good news” trading stance as the economy slows down. Even if we expect lower market volatility for the end of the week, due to US investors being away from their desk, European stock traders will still pay a close attention to today’s ECB account of its last monetary meeting release and try to get more hints of when a similar rate hike tapering may occur on the old continent.


Daily Market Commentary

EU benchmarks remains well oriented this morning, with the DAX-40 index from Frankfurt registering the best performance so far as the market now trades well above the 14,500pts mark, with the 14,580.0pts resistance in sight.

Pierre Veyret– Technical analyst, ActivTrades

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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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