{"id":16836,"date":"2020-09-10T04:49:35","date_gmt":"2020-09-10T02:49:35","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=16836\/"},"modified":"2020-09-10T04:49:35","modified_gmt":"2020-09-10T02:49:35","slug":"the-stability-of-the-euro-is-under-threat","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/the-stability-of-the-euro-is-under-threat\/","title":{"rendered":"The stability of the Euro is under threat"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1946,565
\n(+0%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1821
\n(+0,15%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 27890
\n(-0,30%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 37,81
\n(+0,11%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013255,94
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

In the run-up to the ECB meeting, it is worth thinking about how the central bank will act to halt the rise in the euro. With the current weakening of the US dollar, this will be quite difficult to do, but the European currency needs to decline in order to ensure the right pace of economic recovery.<\/p>\n


\nGold<\/strong><\/p>\n

\"Gold\"<\/p>\n

The ECB does not have many possible levers left in stock. The central bank has gone quite far, making the rate negative and further reduction of the rate will be ineffective. There are also side effects that have a negative effect on the economy. People do not receive interest on their deposits and banks have problems with margins. Rapid growth in mortgage lending leads to serious risks if the rate changes in the positive direction.
\nThe positive dynamics of economic growth in the Eurozone are still in place and there is no reason for the data to be revised for the worse yet. There may be some decline in inflation in August, but compared to the data from July, it will not be significant.
\nChristine Lagarde will try to lower the Euro in her speech, but history says that after such declines the Euro is recovering very quickly.
\nGiven the strengthening trend for the weakening US dollar, the Euro has little chance. Although we are still seeing a relative sideways trend on the EUR\/USD, we can already see that the level at 1.20 will be taken soon.<\/p>\n


\nGold<\/strong><\/p>\n

In the course of current events, it is safe to say that gold is returning to its upward trend. The fundamental factors exerting pressure on the US dollar remain in force. Firstly, there is a change in the attitude towards targeted inflation. Secondly, it is an extra soft monetary policy and a huge amount of unsupported dollars that have been pumped into the economy.
\nIt is safe to say that gold is already rebounding from serious support of $1900 per ounce and growth to $2000, and then to $2100.<\/p>\n


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

14.30 Number of initial applications for unemployment benefits in the USA
\n14.30 ECB press conference and comments on monetary policy
\n17.00 Crude oil reserves<\/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 1946,565 (+0%) EURUSD\u00a0 \u00a01,1821 (+0,15%) DJIA\u00a0 27890 (-0,30%) OIL.WTI\u00a0 37,81 (+0,11%) DAX\u00a0 \u00a013255,94 (+0,01%) In the run-up to the ECB meeting, it is worth thinking about how the central…<\/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-16836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nThe stability of the Euro is under threat | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"In the run-up to the ECB meeting, it is worth thinking about how the central bank will act to halt the rise in the euro.\" \/>\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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