{"id":14795,"date":"2020-02-11T07:08:02","date_gmt":"2020-02-11T06:08:02","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=14795\/"},"modified":"2020-02-11T08:02:15","modified_gmt":"2020-02-11T07:02:15","slug":"where-is-the-euro-going","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/where-is-the-euro-going\/","title":{"rendered":"Where is the euro going?"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 \u00a01567,69
\n(-0,28%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,0911
\n( +0,01%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 \u00a029331,50
\n(+0,31%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 50,19
\n(+1,13%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013529,80
\n(+ 0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

The European currency has been declining for 6 consecutive days. We haven’t seen such a thing for a long time. All last year, speculators and carry traders tried to push the EUR down, which was not very successful. The EUR\/USD pair was most likely supported by informal Central Bank agreements. Their aim is the maximum stability of money markets.<\/p>\n


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

\"EUR-USD
\nBut this cannot go on forever, especially given the extremely poor economic data coming out in the EU in the last 2 weeks. Against this background, the positive picture that the American economy is showing looks just frightening (for EURO). And the negative swap on the pair did not go anywhere.
\nThe nearest support level at 1.0884 is the minimum for 2019. If it is broken through, the downside potential of the pair will increase.<\/p>\n

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

On Monday, stock indices showed mixed dynamics. The American market continued to grow, while most European and Asian indices showed a slight negative dynamics. In fact, stocks are only held on the huge infusions of money printed by the central banks. Otherwise, they would have collapsed a few days ago. It is likely that fresh data will be released during the day on Tuesday, indicating that the number of victims of the coronovirus has exceeded 1000 people. Psychologically, it would be a very strong blow to the investors’ shaky nerves.<\/p>\n

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

Black gold keeps falling. Despite the fact that the Chinese New Year ended and the holidays were not extended. Yes, a lot of people went to work. But at the same time, a large number of enterprises, especially those related to logistics, continue to remain closed, which does not justify the hopes for increased consumption of petroleum products.<\/p>\n

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

10.30 British GDP data for the 4th quarter of 2019.
\n10.30 UK industrial production level for December
\n16.00 Address by Federal Reserve Chief Powell to Congress<\/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 \u00a01567,69 (-0,28%) EURUSD\u00a0 \u00a01,0911 ( +0,01%) DJIA\u00a0 \u00a029331,50 (+0,31%) OIL.WTI\u00a0 50,19 (+1,13%) DAX\u00a0 \u00a013529,80 (+ 0,01%) The European currency has been declining for 6 consecutive days. We haven’t seen…<\/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-14795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nWhere is the euro going? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"The European currency has been declining for 6 consecutive days. 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