Gold 1566,09
|
EURUSD 1,1097
|
DJIA 29195,50
|
OIL.WTI 58,26
|
DAX 13577,75
|
|---|
Yesterday America celebrated Martin Luther King’s Day, so the US markets were closed. Usually on such days, the market activity on all world markets decreases. During the trading session, the DAX index is slightly increasing, adding 0.17% to the previous closing.
USD/CHF chart of the day
Already on Thursday, the first ECB meeting of this year will be held. Bidders are very cautious, as they are likely to hear some information about the ECB stimulus measures. In general, the easing of tension in the trade wars between the U.S. and China and the likely pause in further Fed interest rate adjustments have left no choice to bidders and force them to buy shares. This week, there will be quite a lot of different fundamental data waiting for us, from which investors will make decisions.
JAPANESE YEN
The Japanese yen has come close to the levels of the downtrend, which has been going on since 2015. Trading above 110 in a weak market, the yen did not provide enough momentum on the first day of the week to go even higher. Investors are just waiting for the Bank of Japan meeting, which will be held today. Now the USD/JPY should confirm the weekly breakthrough above the current levels and fix there. If that doesn’t happen, it is likely to roll back to 109.80. The further movement will depend on the economic data from the USA. If they surprise positively, we might see a new high at 110.70 on the Yen due to the strengthening of the US dollar.
SWISS FRANC
It feels like there’s nothing to stop it. Franc has always been one of the protective currencies and its strengthening gives not very good signals for the European market. Investors do not really believe in the growth of the economy of the European Union and at the moment they just buy back the Swiss franc, keeping their savings in a stable currency. It is very likely that this trend of the Swiss franc will continue. At the moment, the currency pair has worked out its growth to the level of 0.9690, now we can expect a further decline to 0.9660 and possibly 0.9590, where the price is waiting for the first serious support.
What is waiting for us today?
04.00 Bank of Japan press conference and interest rate decision
10.30 ILO unemployment rate in the UK for November
11.00 ZEW Institute business sentiment index
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.