{"id":15835,"date":"2020-04-22T07:32:08","date_gmt":"2020-04-22T05:32:08","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=15835\/"},"modified":"2020-04-22T07:32:08","modified_gmt":"2020-04-22T05:32:08","slug":"oil-the-catalyst-for-the-crisis","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/oil-the-catalyst-for-the-crisis\/","title":{"rendered":"Oil &#8211; the catalyst for the crisis?"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 \u00a01693,50<br \/>\n(<span style=\"color: #008000;\">+0,36%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,0849<br \/>\n(<span style=\"color: #ff0000;\"> -0,06%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 24115<br \/>\n(<span style=\"color: #008000;\">+5,19%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 25,095<br \/>\n(<span style=\"color: #008000;\">+91,71%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a010609<br \/>\n(<span style=\"color: #008000;\">+ 3,20%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">Tuesday turned out to be negative for most markets due to a serious drop in energy prices. In some cases, the news of oil fall overshadowed the news of coronavirus pandemic. Many investors switched to the analysis of a completely different situation.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nGBP\/USD<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-15836 aligncenter\" src=\"\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2020\/04\/GBPUSD.png\" alt=\"GBPUSD\" width=\"600\" height=\"261\" \/><\/p>\n<p align=\"justify\">Due to a sharp drop in oil markets on Tuesday are in red. Sales are moderate and there is no serious panic. We should not expect the situation to improve yet, and the sale of assets is likely to continue in the coming days. European markets on Tuesday also failed to hold out due to the collapse of the oil market and fell throughout the trading session. DAX closed at 10249, which is 3.99% below the opening. S&amp;P500 dropped 2.8%.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nPound Sterling<br \/>\n<\/strong><\/p>\n<p>The pound remains under pressure due to fears of weak inflationary data as well as frustrations over Brexit. No matter how hard Britain tries, quarantine and the spread of coronavirus will affect the kingdom&#8217;s economy. If the inflation data comes out lower than predicted, the pound is likely to continue falling against the US dollar. GBP loses more than 1% against the US dollar on Tuesday and trades at 1.2280.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nOil<br \/>\n<\/strong><\/p>\n<p align=\"justify\">As might be expected, the oil crisis continues. The reason for the short-term decline in oil is logistical problems. Due to quarantine, there are big problems in transport hubs and lack of free tankers, as the contractor is obliged to take this oil on board of a ship after purchasing a contract in May and pump it into storage. In the current situation to find a free tanker, as well as the storage was a very difficult task. Against the background of a major decline in the May contract, the June futures for WTI oil on Tuesday lost 35% of its value. The situation is critical and the decline is likely to continue unless the countries take critical measures.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nGold<br \/>\n<\/strong><\/p>\n<p align=\"justify\">Due to the shock in the energy market on Tuesday gold does not feel very well and falls on investors&#8217; worries. Although gold is a metal shelter, but still in critical situations investors prefer to go to the dollar, which is also in its time a currency shelter, which is always liquid in the market. By the end of the trading session in the U.S. there is a good buyback of gold, which indicates a good interest in the precious metal. We still expect the gold to exit above $1700 per ounce and conquer new highs.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat&#8217;s waiting for us today?<\/strong><\/p>\n<p align=\"justify\">00.45 UK consumer price index<br \/>\n11.00 Consumer Price Index Baseline in Canada<br \/>\n16.30 US crude oil reserves<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>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":"<p>Gold\u00a0 \u00a01693,50 (+0,36%) EURUSD\u00a0 \u00a01,0849 ( -0,06%) DJIA\u00a0 24115 (+5,19%) OIL.WTI\u00a0 25,095 (+91,71%) DAX\u00a0 \u00a010609 (+ 3,20%) Tuesday turned out to be negative for most markets due to a serious&#8230;<\/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-15835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Oil - the catalyst for the crisis? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Tuesday turned out to be negative for most markets due to a serious drop in energy prices.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bernstein-bank.com\/en\/oil-the-catalyst-for-the-crisis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil - the catalyst for the crisis? 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