Gold 1892,01
|
EURUSD 1,1737
|
DJIA 27227,50
|
OIL.WTI 39,03
|
DAX 12821,35
|
|---|
September is ending and we are getting closer to the US elections every day. On Tuesday, the first debate of candidates will take place where they will reveal their positions and views on US foreign and domestic policy.
OIL.WTI
Investors are very cautious about this event and are reducing their market positions.
A package of fiscal assistance to the economy has still not been adopted, and ongoing negotiations are still far from an agreement. The mortality rate from COVID-19 has reached 1 million people. Problems have accumulated enough to put pressure on indices.
There is likely to be a time of increased volatility on the stock exchanges, because the future of the country will depend on the applications of presidential candidates and the elections themselves. The economic policies of Republicans and Democrats vary greatly from one another.
On Tuesday, the S&P500 index loses almost 1% and drops to the 3320 level. The DAX closed with a decline of 0.35% to 12825.
Euro
After all, the bears were able to hold their level at 1.17 and the EUR/USD pair started to grow. Serious injections of dollars into the US economy still put pressure on the rate. In the short term, the EUR/USD pair has a test level at 1.18, from which a small correction is possible. Much depends on the outcome of this week’s debate and macroeconomic statistics.
Gold
Gold is gaining momentum. In anticipation of possible fluctuations in the stock markets, investors have chosen to go into “asset shelters”. The dollar is also losing its position and giving gold a chance to grow even more. The price has come close to $1900 per ounce. There are a number of important macroeconomic data ahead, which will certainly have a short-term impact on the gold market. The main data will be on non-agricultural employment in the USA. Gold now has a good chance of reaching to $2,000 once again.
What awaits us today?
08.00 UK GDP since the beginning of the year
11.00 EU Consumer Price Index from the beginning of the year
14.30 US GDP since the beginning of the year
16.30 US crude oil reserves
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.