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Daily market commentary: Gold prices hedged down, remaining under pressure from an increasingly hawkish Federal Reserve

European Shares Stocks were little changed in Europe on Wednesday – despite Asian shares extending yesterday’s gains by closing in the green overnight…

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European Shares

Stocks were little changed in Europe on Wednesday – despite Asian shares extending yesterday’s gains by closing in the green overnight – as market operators brace for a busy day.

Most EU benchmarks trade towards their opening price, with utilities paring losses from the real estate sector, marking a pause in the current very short-term rally on stocks. This week’s growing appetite for riskier assets is mostly due to “technical” reasons rather than any major economic breakthrough, as investors reduced their exposure to treasuries in order to seize the opportunity of much more attractive prices on stocks. However, this “buy the dip” move may be short lived as market operators will need solid macro developments before driving markets in a more directional trend. Traders are waiting for the next EU CPI print, due later this morning, as well as the G7 Finance minister and Central bank meeting to have a better assessment of the economic conditions in Europe.

The DAX-40 index registered one of the worst performances today as the market trades below 14,150.0pts, in a corrective move following the recent clearing of its bearish mid-term trendline.

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.

The post Daily market commentary: Gold prices hedged down, remaining under pressure from an increasingly hawkish Federal Reserve appeared first on LeapRate.


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