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11/04/2018 – 09:45 am: The leading German index starts into the middle of the week behind negative signs. On the one hand, the Dax is paying tribute to yesterday’s upswing, and on the other a possible US military strike in Syria is causing uncertainty. While the trade conflict between the USA and China has recently been eased, the geopolitical risks in the Middle East are now increasing.

A military escalation with the direct involvement of the United States and possibly also France in response to the alleged use of chemical weapons by Syrian armed forces is now proving to be a further burdening factor. The latter then already put pressure on share prices in Nippon. As a result, the Japanese Nikkei closed behind a minus of 0.5 percent. In view of these risks, the international stock markets are likely to remain highly volatile.

In addition to further developments in the potential trade war and Syrian crisis, investors today are now looking in particular at economic figures from the other side of the Atlantic. In addition to US inflation data and real incomes for the month of March, the FOMC meeting protocol of the US Federal Reserve is on the agenda.

At the moment, the Dax can limit its loss again and is 0.2 percent weaker at 12,368 points. By contrast, the Euro can increase by a moderate 0.2 percent to currently USD 1.2382. Gold currently trades at USD 1,345, a gain of 0.3 percent per troy ounce.

Important notes on this publication:

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.

04/10/2018 – 6:20 pm: The Dax is leaving Tuesday trading with confidence. The leading German index closes just below 12,400 points, an increase of just under 1.1 percent. The upward trend is supported by China’s announcements to significantly reduce tariffs on automobile imports, among other things. China is thus taking a first step towards de-escalating the recently escalating trade conflict with the United States of America. In this context, President Xi Jinping spoke of a “new phase of opening up” his country. In addition, foreign access to the Chinese financial market should be significantly facilitated.

The stock markets around the world are correspondingly relieved. The danger of an escalating trade war had recently caused enormous uncertainty among investors. All the more reason to breathe a sigh of relief. Friendly guidelines from the Far East and green omens from the old world are now also pushing Wall Street into the northern course area. Dow Jones, S&P and Nasdaq are all reporting mark-ups above 1.5 percent at the moment. Meanwhile, the Euro can increase by a moderate 0.1 percent to currently 1.2339 US Dollars. Gold trades at USD 1,338, an increase of 0.2 percent per troy ounce.

Important notes on this publication:

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.

04/09/2018: Numerous economic data are on the calendar for the new trading week. On Monday the German trade and current account balance as well as the investors confidence in the Euro-Zone will be taken into account. On Tuesday attention will focus on US producer prices and American wholesale inventories. By midweek, market participants are waiting for US inflation data and the FOMC meeting minutes. The next day, industrial production in the Euro-Zone (February) and the ECB meeting minutes of the Euro-Zone come to the fore. In the USA the first weekly applications for unemployment benefit as well as import and export prices are due to be published. Finally at the end of the week inflation figures for Germany, the trade balance in the Euro-Zone and US consumer confidence of the University of Michigan are on the agenda.

Monday – 04/09/18: 08:00 am Trade and current account Germany (February) / 10:30 am Sentix investor confidence Euro-Zone (April)

Tuesday – 04/10/18: 02:30 pm Producer Prices USA (March) / 04:00 pm Inventory stocks wholesale USA (February) / 10:30 pm API Crude oil Inventory data USA (week)

Wednesday – 04/11/18: 02:30 pm Consumer prices USA (March) / 02:30 pm Real income USA (March) / 04:30 pm EIA crude oil inventory data USA (week) / 08:00 pm FOMC meeting minutes USA

Thursday – 04/12/18: 11:00 am Industrial production Euro-Zone (February) / 01:30 pm ECB minutes Euro-Zone / 02:30 pm First applications for unemployment benefits USA (week) / 02:30 pm Import and export prices USA (March)

Friday – 04/13/18: 08:00 am Consumer prices Germany (March) / 11:00 pm Trade balance Euro-Zone (February) / 04:00 pm University of Michigan consumer confidence USA (April)

All times are based on CET. For more information please see our Economic Calendar (Market Movers).

Important notes on this publication:

The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.