Will CAC 40 Set a New Record?

The CAC40 has quite recently recorded its 6th consecutive positive session for a total pick up of over 3%. The Parisian stock exchange offers a fence over the bar of 4900 pts, at 4925 pt.

The European Parliament has quite recently embraced the disputable unhindered commerce understanding between the EU and Canada (CETA). The act can subsequently go into compel temporarily from April. The full execution could occur much later, as the content should likewise be sanctioned by all the national and local parliaments of the EU.

The euro range exchange surplus achieved 28.1 billion euros in December after 24.4 billion euros a month earlier. That expanded exports by 6%, while imports expanded by 4%. The agreement was for an overflow of 22.8 billion USD.

UK figures continued to show the strength of the British economy. The unemployment rate stayed at 4.8% in January in the United Kingdom, down 11 years, while the quantity of individuals applying for unemployment benefits fell by 42,400 in January after a decay of 20,500 one month prior and against a normal increment of 800. The normal week by week wage expanded by 2.6% (counting reward) in January against 2.8% accord and 2.6% barring reward (+ 2.7% beforehand).

As per the administration’s report of the day in the United States, retail sakes for the time of January 2017 were up 0.4% contrasted with the earlier month, against + 0.1% accord and + 1% For the modified (up) perusing of the earlier month. Barring the car area, retail sales in January were up 0.8%, contrasted and + 0.5% accord and + 0.4% one month prior. Barring car and fuel, deals climbed 0.7%, contrasted and + 0.3% agreement.

ADP Employment (+ 2.1%) in January 2017, Paris Airport traffic was up 7.2% compared to January 2016 with 7.3 million passengers, of which 5 million were Paris-Charles de Gaulle (+ 6.1%) and 2.3 million in Paris-Orly (+ 9.6%).

BNP Paribas rose by 1.2% with Natixis (+ 2.1%) and Société Générale (+ 1.3%).

Technical analysis

If we look on the chart, we can see that the CAC 40 is facing a break off the triangle which exist since 1999 till today  – there are 3 topping preforms: 1999,2007,2015 and now in 2017 its close again to this line, will it break it???

If indeed, we should expect to see new highs, if not so we need to be ready for some corrections to test the 3000 points area

Good Luck