{"id":16945,"date":"2020-10-09T07:41:46","date_gmt":"2020-10-09T05:41:46","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=16945\/"},"modified":"2020-10-09T07:41:46","modified_gmt":"2020-10-09T05:41:46","slug":"the-pound-has-prepared-for-brexit-next-week","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/the-pound-has-prepared-for-brexit-next-week\/","title":{"rendered":"The pound has prepared for Brexit next week"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1910,955
\n(+0,93%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1777
\n(+0,17%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 28423,50
\n(+0,41%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 41,11
\n(-0,34%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 \u00a013064,86
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

The next week of October is coming to an end. We can draw some conclusions about the situation on the markets. On the whole, everything looks optimistic. Donald Trump has almost recovered and has even managed to report on progress in negotiations on financial incentives.<\/p>\n

WTI<\/strong><\/p>\n

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

In the run-up to the elections, macroeconomic data is improving. The number of initial applications for unemployment benefits is still high, but the overall unemployment rate in the USA is improving with each report.
\nThe American market will continue to recover in the hope of accepting the aid package, given that the administration is still trying to reach an agreement.
\nThe S&P500 index on Thursday marks a new monthly high and trades at 3440.
\nThe DAX rises on Thursday, relying on stimulus measures in the USA. Investors are now so enthusiastic about what is happening in the states that they even ignore the rise in COVID-19 diseases in Europe. It is possible that the epidemic will have a delayed impact on the market as soon as it seriously affects economic performance.<\/p>\n


\nPound Sterling<\/strong><\/p>\n

As long as there is no strong movement with a GBP\/USD pair. The pound is at the upper level of the range and seems to be preparing for a strong movement.
\nAnd that is not surprising, because something is bound to happen next week. October 15 is the deadline set by Boris Johnson for negotiations on Brexit. There are still quite a few unresolved issues ahead, but Johnson is ready to withdraw from the negotiations in an ultimatum. So far the situation is escalating and there are risks, both upward and downward. On Thursday the pair GBP\/USD trades at 1.2930.<\/p>\n


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

Thursday was a very good day for oil traders. Optimistic news from the USA supported the price of black gold, as the new aid package should stimulate the economy quite well. The price per barrel of WTI oil exceeded $41. All the attention is focused on the USA. Coronavirus is falling into the background, although another lockdown in the countries could significantly lower the demand for oil and the price accordingly.<\/p>\n


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

08.00 UK GDP for September
\n08.00 UK manufacturing output for August
\n14.30 Change in employment in Canada 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 1910,955 (+0,93%) EURUSD\u00a0 \u00a01,1777 (+0,17%) DJIA\u00a0 28423,50 (+0,41%) OIL.WTI\u00a0 41,11 (-0,34%) DAX\u00a0 \u00a013064,86 (+0,01%) The next week of October is coming to an end. We can draw some conclusions…<\/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-16945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nThe pound has prepared for Brexit next week | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"The next week of October is coming to an end. 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