{"id":13734,"date":"2019-12-06T07:27:44","date_gmt":"2019-12-06T06:27:44","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=13734\/"},"modified":"2019-12-06T07:27:44","modified_gmt":"2019-12-06T06:27:44","slug":"is-it-time-for-a-turn-on-the-u-s-dollar","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/is-it-time-for-a-turn-on-the-u-s-dollar\/","title":{"rendered":"Is it time for a turn on the U.S. dollar?"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 \u00a01472,98
\n(-0,20%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1105
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 \u00a027758,50
\n(+0,31%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 58,36
\n(+0,09%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013076,74
\n(+ 0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

A large block of data on the European economy, published on Thursday, showed values worse than analysts’ forecasts. Nevertheless, EUR continued to grow within the short-term trend. The pound sterling is confidently hitting multi-month highs.<\/p>\n

DAX30 chart of the day<\/strong><\/p>\n

\"DAX30<\/p>\n

But the most interesting thing happens with 2 protective currencies – the Japanese yen and the Swiss franc. Despite the rebound of the US stock market, the yen and the franc did not fall, but rose against the US dollar. What does this mean? The U.S. dollar has gone into disarray today, and it is also declining for all commodities.<\/p>\n

EUR\/USD<\/strong><\/p>\n

After a break-down of the 1.11 level yesterday, which had been stubborn since November 5, the European currency rolled back a bit, but today it broke through again from the bottom to the top. The technical picture remains favorable. The next strong resistance level, which is the 200-day simple moving average, is at 1.116. With the SMA 200 above, the outlook for the dollar, despite the positive swap, will deteriorate sharply.<\/p>\n

GOLD<\/strong><\/p>\n

The gold market today follows the euro. If the weakening of the U.S. currency continues, we will see another test of $1500 per troy ounce the other day. Why can’t gold hold its ground higher? This raises a lot of questions from investors, especially against the background of forecasts of many investment banks that the yellow metal is expected to grow globally to $2,000 next year.<\/p>\n

INDICES<\/strong><\/p>\n

Global stock indices today have sharply reduced their volatility compared to the first 3 days of December. Bulls and bears took a break from licking their wounds. The main question is whether the history of the last year, when December instead of the traditional rally brought with it a huge correction of the markets, will not repeat itself. Tomorrow will be very important, fixing the closure of the first trading week of the month. It is possible that volatility will increase on the most important news from the USA.<\/p>\n

What can we expect today?<\/strong><\/p>\n

08.00 Industrial production in Germany October
\n10.00 OPEC meeting
\n14.30 Number of new jobs in the United States November
\n14.30 Unemployment data in the US November
\n14.30 Changes in the number of employees in Canada November
\n14.30 Unemployment data for Canada November<\/p>\n

\n

Important Notes on This Publication: <\/small><\/p>\n

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.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Gold\u00a0 \u00a01472,98 (-0,20%) EURUSD\u00a0 \u00a01,1105 (+0,01%) DJIA\u00a0 \u00a027758,50 (+0,31%) OIL.WTI\u00a0 58,36 (+0,09%) DAX\u00a0 \u00a013076,74 (+ 0,01%) A large block of data on the European economy, published on Thursday, showed values…<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-13734","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nIs it time for a turn on the U.S. dollar? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"A large block of data on the European economy, published on Thursday, showed values worse than analysts' forecasts. 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