{"id":14669,"date":"2020-02-04T07:33:32","date_gmt":"2020-02-04T06:33:32","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=14669\/"},"modified":"2020-02-04T07:33:32","modified_gmt":"2020-02-04T06:33:32","slug":"what-about-the-pound","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/what-about-the-pound\/","title":{"rendered":"What about the pound"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 \u00a01572,19
\n(-0,29%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1061
\n( +0,02%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 \u00a028558,50
\n(+0,70%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 50,68
\n(+1,60%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013028,41
\n(+ 0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

As long as there’s another small bounce in the market, you can pause and think about something unrelated to the coronovirus. And the first challenger we haven’t thought of in a long time is, of course, the English pound. Britain has finally got out of the EU and started a completely independent policy.
\nThe main outcome of the meeting of the Bank of England, last week, was the decision of a board member, who changed his mind in the direction of tightening monetary policy.<\/p>\n


\nGBP\/Dollar chart of the day
\n<\/strong><\/p>\n

\"\"
\nBut on Monday, the pound fell sharply against all major currencies. The reasons are the same as we considered a month ago. It is not enough to become independent, now they need to solve a huge number of real problems. And these problems will certainly have a negative impact on the economy in the near future. Pay close attention to the chart.<\/p>\n

US DOLLAR<\/strong><\/p>\n

As we noted in the previous newsletter, Friday’s decline of the US dollar was illogical. On Monday, the American currency turned around. Potentially, it has a better chance of further growth due to positive swaps and global economic risks.<\/p>\n

STOCK INDICES IN CHINA<\/strong><\/p>\n

Yesterday’s 8% drop in major Chinese indices should not mislead anyone. It’s a volume accumulated during the holidays. Taking into account that the same Japanese index was losing 7% at the moment, the fall of Chinese stocks can be considered not very significant.
\nIt is much more interesting how events will develop in 3-4 days, when even extended holidays will end. If the production does not open, the fall of the Chinese stock market, followed by the world stock markets, may become disastrous.<\/p>\n

OIL<\/strong><\/p>\n

The oil keeps dropping. And there are already clear milestones. China has reduced its exports of black gold by 20%. And that’s 3 million barrels a day. It’s just a huge volume by market standards.<\/p>\n

What awaits us today?<\/strong><\/p>\n

04.30 Australian Reserve Bank interest rate decision.
\n10.30 UK Construction Business Index January
\n16.00 US production orders for December<\/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 \u00a01572,19 (-0,29%) EURUSD\u00a0 \u00a01,1061 ( +0,02%) DJIA\u00a0 \u00a028558,50 (+0,70%) OIL.WTI\u00a0 50,68 (+1,60%) DAX\u00a0 \u00a013028,41 (+ 0,01%) As long as there’s another small bounce in the market, you can pause…<\/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-14669","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nWhat about the pound | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"As long as there's another small bounce in the market, you can pause and think about something unrelated to the coronovirus.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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