{"id":16869,"date":"2020-09-18T07:33:53","date_gmt":"2020-09-18T05:33:53","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=16869\/"},"modified":"2020-09-18T07:33:53","modified_gmt":"2020-09-18T05:33:53","slug":"markets-do-not-know-what-to-do-next","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/markets-do-not-know-what-to-do-next\/","title":{"rendered":"Markets do not know what to do next"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1952,085
\n(+0,42%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1849
\n(+0,05%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 27734,50
\n(-0,30%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 41,43
\n(+1,15%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013231,23
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

Thursday was a day of disappointment. This is how the expected speech from Powell turned out to be completely unspecific and greatly upset investors. It is not clear whether the turmoil in the markets will start or whether investors will buy again.<\/p>\n


\nWTI<\/strong><\/p>\n

\"WTI\"<\/p>\n

How much investors wanted to hear specifics from the US Federal Reserve to decide what to do next in the markets, but no luck. All we heard was the US Federal Reserve’s strong position in terms of maintaining an adaptive monetary policy, its belief in economic recovery, and some revision of the US unemployment forecast as well as economic growth.
\nThese statements have turned out to be completely unhelpful for investors, resulting in a sale of S&P500 futures throughout Thursday. There were many different statements at the conference which will indirectly affect the market. The Fed is waiting for further financial stimulus, which is not available. There is no way Republicans and Democrats can agree on what kind of stimulus it will be in form and volume.
\nIn the near future, analysts will analyse Powell’s speech in detail and draw certain conclusions about what he wanted to say and what the US Federal Reserve will do.<\/p>\n


\nEuro<\/strong><\/p>\n

The US Federal Reserve expects inflation to rise to 1.7% this year and rates to remain at the same level for a long time, until 2024. Given these figures, it can be assumed that the US will already have a real negative interest rate of 1.3%-1.5%. This is a negative signal for the dollar, so in this situation investors will buy high-yielding assets and currencies that are more stable. In the current situation, the Euro looks attractive and we can consider buying from 1.1750 with further growth to 1.1850 and further to 1.20.<\/p>\n


\nOil<\/strong><\/p>\n

Oil continues its growth for the fifth consecutive trading session. The falling US dollar is setting the pace, but there are some signs of price reversal from current positions. Recently we have seen a negative oil price and it has risen to $40 per barrel, which is very significant. The Coronavirus is beginning to rage in Europe, which could in turn affect the economic recovery. A correction to $36 per barrel can well be expected in the current situation.<\/p>\n


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

08.00 UK retail sales volume for August.
\n14.30 Basic retail sales index in Canada for July
\n16.00 Consumer sentiment index from the University of Michigan in the USA for September<\/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 1952,085 (+0,42%) EURUSD\u00a0 \u00a01,1849 (+0,05%) DJIA\u00a0 27734,50 (-0,30%) OIL.WTI\u00a0 41,43 (+1,15%) DAX\u00a0 \u00a013231,23 (+0,01%) Thursday was a day of disappointment. This is how the expected speech from Powell turned…<\/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-16869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nMarkets do not know what to do next | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Thursday was a day of disappointment. 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