{"id":13956,"date":"2019-12-20T07:41:09","date_gmt":"2019-12-20T06:41:09","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=13956\/"},"modified":"2019-12-20T08:31:02","modified_gmt":"2019-12-20T07:31:02","slug":"cold-shower-for-the-british-economy","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/cold-shower-for-the-british-economy\/","title":{"rendered":"Cold shower for the British economy"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 \u00a01479,03
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1117
\n(-0,07%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 \u00a028387,50
\n(-0,04%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 61,15
\n(+0,18%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013195,97
\n(– 0,17%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

Two days ago we were giving a brief overview of the situation after the announcement of the vote in the UK Parliament. As predicted, the pound keeps rolling down. The latest news pack came out today.<\/p>\n

GBP\/USD chart of the day <\/strong><\/p>\n

\"trading-news-20.12.2019\"<\/p>\n

The level of retail sales turned out to be much worse than analysts’ expectations. The most interesting question is not even why sales are falling. But why do analysts keep making such a big mistake when they see what is going on?
\nAt the moment the pair pound\/dollar fell just below 1.30.
\nIt is very entertaining. Climbing to 1.35 and taking the stops 10-12 points higher, then dropping without any pullbacks to 1.30 and taking the next stops 10-12 points lower. The example can be recorded in trading books, in the chapter of trading on news and expectations.<\/p>\n

What else happened on Thursday?<\/strong><\/p>\n

The euro-dollar pair shows a slight rebound. Some short-term trend is out of the question, the movement is chaotic.
\nOn the other hand, the Swiss franc once again made us happy. Against the backdrop of falling pound sterling, investors continue to flee in the direction of Swiss assets. Apparently, future economic turmoil is expected not only by the UK, but also affects the EU countries, as the main trading partner. Big investors are trying to protect themselves in advance, before the new year.<\/p>\n

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

Meanwhile, we continue our predicted Christmas rally in the American stock market. Investors do not pay attention to any negative, even voting on the impeachment of Donald Trump! Another classic situation, worthy of a trading textbook on the topic “The trend is our friend”.<\/p>\n

What is waiting for us today?<\/strong><\/p>\n

02.30 Decision of the National Bank of China on interest rate
\n10.30 UK Gross Domestic Product data 3Q.
\n14.30 U.S. Gross Domestic Product data 3Q.<\/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 \u00a01479,03 (+0,01%) EURUSD\u00a0 \u00a01,1117 (-0,07%) DJIA\u00a0 \u00a028387,50 (-0,04%) OIL.WTI\u00a0 61,15 (+0,18%) DAX\u00a0 \u00a013195,97 (– 0,17%) Two days ago we were giving a brief overview of the situation after the…<\/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-13956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCold shower for the British economy | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Two days ago we were giving a brief overview of the situation after the announcement of the vote in the UK Parliament. As predicted, the pound keeps rolling down. 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