{"id":16831,"date":"2020-09-09T07:36:12","date_gmt":"2020-09-09T05:36:12","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=16831\/"},"modified":"2020-09-09T07:36:12","modified_gmt":"2020-09-09T05:36:12","slug":"the-united-kingdom-is-on-the-verge-of-disaster","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/the-united-kingdom-is-on-the-verge-of-disaster\/","title":{"rendered":"The United Kingdom is on the verge of disaster"},"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 1932,21<br \/>\n(<span style=\"color: #008000;\">+0,04%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1782<br \/>\n(<span style=\"color: #008000;\">+0,08%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 27599<br \/>\n(<span style=\"color: #008000;\">+0,28%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 36,65<br \/>\n(<span style=\"color: #ff0000;\">-0,46%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a012906,76<br \/>\n(<span style=\"color: #008000;\">+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">As we predicted in previous reviews, uncertainty is increasing in financial markets. Donald Trump is once again starting to speak out for China. Now he wants to ban cotton imports from China and put an end to America&#8217;s dependence on those products. Additionally the negotiations about Brexit are at an impasse.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nGBP\/USD<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-16832 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2020\/09\/GBPUSD.png\" alt=\"GBPUSD\" width=\"600\" height=\"215\" \/><\/p>\n<p align=\"justify\">The closer the election, the more passionate it will become. Markets understand that it is difficult to work calmly in such uncertainty, so we saw sell-outs on Tuesday. These were mainly shares of companies in the technology sector, which have grown very well in the last few months. There is a good swing ahead of us, especially in the technology and IT sectors. Against the backdrop of recent events, we should not expect strong growth in the American market.<br \/>\nIn Europe, too, things are not easy. The 14.8% drop in GDP in the Eurozone is severely damaging the mood of investors.<br \/>\nThe markets are likely to be waiting for the outcome of the September meeting of the European Central Bank, which will be held already this Thursday. The DAX index is losing 1% and is trading at 12980.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nPound Sterling<\/strong><\/p>\n<p align=\"justify\">It seems that the British pound and the UK itself are starting to have serious problems after all. Negotiations are once again at an impasse. Olaf Scholz, the German finance minister, said that London is less and less ready to reach an agreement on Brexit and this will lead to a catastrophic situation. Of course, UK&#8217;s exit without a deal will be a very big problem for the country&#8217;s economy and for its citizens.<br \/>\nAgainst this backdrop, the GBP\/USD pair has lost almost 1% and is trading at 1.30, which is a strong resistance. Due to the strengthening of the US dollar, further decline in the pair is possible.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nOil<\/strong><\/p>\n<p align=\"justify\">Oil was squeezed into a narrow price range and several key factors did not give a chance for growth. The first was the strengthening US dollar, which put considerable pressure on the price. The second is the second wave of tension between the US and China. The third is the global economy, which is still bubbling after the pandemic and cannot quickly increase demand for black gold.<br \/>\nOn Tuesday, WTI oil loses almost 7% and trades at $37 per barrel. So far, only the rapidly dwindling oil reserves in the US stand a chance that the price will try to recover slightly.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat awaits us today?<\/strong><\/p>\n<p align=\"justify\">03.30 Consumer price index in China since the beginning of the year<br \/>\n16.00 Bank of Canada decision on interest rate<br \/>\n22.30 Weekly crude oil reserves in the USA according to the American Petroleum Institute<\/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 1932,21 (+0,04%) EURUSD\u00a0 \u00a01,1782 (+0,08%) DJIA\u00a0 27599 (+0,28%) OIL.WTI\u00a0 36,65 (-0,46%) DAX\u00a0 \u00a012906,76 (+0,01%) As we predicted in previous reviews, uncertainty is increasing in financial markets. Donald Trump is&#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-16831","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>The United Kingdom is on the verge of disaster | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"As we predicted in previous reviews, uncertainty is increasing in financial markets. 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