ActivTrades’ Market Analysts have prepared for LeapRate their daily commentary on traditional markets for November 19, 2019. This is not a trading advice. See details below:
FOREX/BREXIT
The pound continues to gain ground against other major currencies in early Tuesday trading. This follows a strong Monday dominated by market optimism about the future value of sterling, with some analysts pointing at $1.34 as a realistic target price for first quarter of 2020.
The latest polls are pointing to a win for the Conservative Party in next month’s election, with sufficient support in Parliament to deliver the Brexit deal negotiated by Boris Johnson and the EU back in October. Investors are now pricing in the higher probability of a swift post-election resolution for the Brexit saga, which to some degree has kept the British economy on hold for almost three and a half years.
Ricardo Evangelista – Senior Analyst, ActivTrades
EUROPEAN SHARES
European markets are trading significantly higher, led by miners and the travel and leisure sector, despite a mixed trading session in Asia. Global sentiment remains bullish on stocks as investors look for further positive signs from the trade talks. Investors have already priced a trade deal in with many benchmarks around the world now hitting record prices and P/E ratio levels. This could be a dangerous situation for bull traders if negotiations between Beijing and Washington slow-down as many traders have already bought the rumour. Today, investors’ focus will be drawn to both US Building Permits data as well as the first televised leadership debate in the UK, prior to December’s general election.
Pierre Veyret– Technical analyst, ActivTrades