{"id":17003,"date":"2020-10-23T07:25:04","date_gmt":"2020-10-23T05:25:04","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=17003\/"},"modified":"2020-10-23T07:25:04","modified_gmt":"2020-10-23T05:25:04","slug":"will-oil-be-able-to-maintain-its-current-level","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/will-oil-be-able-to-maintain-its-current-level\/","title":{"rendered":"Will oil be able to maintain its current level?"},"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 1905,80<br \/>\n(<span style=\"color: #008000;\">+0,10%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,1802<br \/>\n(<span style=\"color: #ff0000;\">-0,15%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 28282,50<br \/>\n(<span style=\"color: #008000;\">+0,10%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 40,53<br \/>\n(<span style=\"color: #ff0000;\">-0,17%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a012538,70<br \/>\n(<span style=\"color: #008000;\">+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">Every day starts with the same thing. Investors are waiting for the outcome of negotiations on financial support for business in the USA. Information appears that the parties tend to approve a $2 trillion package.<\/p>\n<p style=\"text-align: center;\"><strong>BTC<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-17004 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2020\/10\/BTC.png\" alt=\"BTC\" width=\"600\" height=\"218\" \/><\/p>\n<p align=\"justify\">On Thursday, the indices again show mixed trends. It is difficult for investors to make decisions when it is not clear what lies ahead. News about the financial aid package even overshadows the statistics on the coronavirus pandemic, which is gaining momentum day by day in almost every country in the world.<br \/>\nOn Thursday late in the evening, the US is hosting the last pre-election debate in which candidates will try to tilt the scales in their favour. Election day is getting closer every day. Of course, the acceptance of the aid package will bring life back to the markets, and at this point it is important who will be in charge of this process.<br \/>\nThe forecast is still disappointing. If no aid package is accepted before the election, indices are likely to fall slowly to the election result, because there are no drivers for growth and you don&#8217;t want to sell either, because something positive should happen after the election anyway.<br \/>\nThe DAX closed on Thursday at 12543, 0.12% below its opening level.<br \/>\nThe S&amp;P500 index was traded just above the opening price at 3445.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nEuro<\/strong><\/p>\n<p align=\"justify\">The EUR\/USD pair is moderately declining on Thursday, and this is logical after this week&#8217;s rise. The current EUR price is more a local condition than a trend reversal. The dollar is losing positions every day and will lose even more after the financial aid measures are taken. The EUR\/USD keeps its growth potential at 1.20. The dollar is still among the outsiders in the market and should support the growth of the Euro.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nOil<\/strong><\/p>\n<p align=\"justify\">The price of WTI oil was delayed in the range of 40-41 dollars per barrel. The growing second wave of coronavirus has stopped the growth in consumption and demand for gasoline and oil. Many people just stay home and do not spend fuel.<br \/>\nThe price of oil depends directly on the results of the US elections. If the Democrats win, they are likely to try to return the markets of Iran and Venezuela to export. In that case, a lot of cheap oil will contribute to the commodity market.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat awaits us today?<\/strong><\/p>\n<p align=\"justify\">10.00 IFO German Business Climate Index for October<br \/>\n10.30 UK PMI Composite Index for October<br \/>\n19.00 Total and active number of drilling rigs in the USA from Baker Hughes<\/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 1905,80 (+0,10%) EURUSD\u00a0 \u00a01,1802 (-0,15%) DJIA\u00a0 28282,50 (+0,10%) OIL.WTI\u00a0 40,53 (-0,17%) DAX\u00a0 \u00a012538,70 (+0,01%) Every day starts with the same thing. Investors are waiting for the outcome of negotiations&#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-17003","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>Will oil be able to maintain its current level? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Every day starts with the same thing. 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