{"id":18092,"date":"2021-09-03T07:32:48","date_gmt":"2021-09-03T05:32:48","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=18092\/"},"modified":"2021-09-03T07:32:48","modified_gmt":"2021-09-03T05:32:48","slug":"can-the-dollar-regain-ground","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/can-the-dollar-regain-ground\/","title":{"rendered":"Can the dollar regain ground?"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1811,165
\n(+0,09%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1876
\n(+0,02%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 35482,50
\n(+0,16%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 69,795
\n(+0,06%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 15814
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

Here we are waiting for the end of the week and with it the long-awaited US jobs report. After Powell’s speech US employment comes out on top. We should not expect strong swings in the markets before this report comes out as not only investors are waiting for it but also the Fed to plan stimulus policy actions.<\/p>\n


\nEUR\/USD<\/strong><\/p>\n

\"EURUSD\"<\/p>\n

Given the latest unemployment and private sector employment data, it is safe to say that this report will not be strong enough to reverse the current trend in the stock market. And that is a good thing. The smoother we approach the start of the tapering of quantitative easing, the better for all.
\nThe biggest impact of the released labour market data has been on the US dollar, which has been weakening since mid-August. Investors realise that a weak jobs report will delay further decisions to reduce support and hence more currency will further affect the exchange rate. There is also still time for speculating with risky assets that might still yield profits.
\nThe technical picture of the EUR\/USD pair looks quite readable. By Friday’s reports the pair is approaching an important resistance at 1.19. It is safe to say that on Friday the volatility will increase and there will be an attempt to test this level.
\nIf the pair manages to close at least above 1.1890, it will mean a possible continuation of the bullish movement in the near future.
\nHowever, there will be questions about the Euro’s medium-term upside to 1.21. The European Central Bank does not plan any unwinding of economic support at all before spring and will continue to print the Euro at the same pace. It is a negative factor for the strength of the Euro and the central bank does not need a stronger Euro. Almost all sectors of the economy will suffer. Therefore it is very likely that EUR\/USD will remain in the 1.17-1.20 range by the end of the year.<\/p>\n

11.00 EU retail sales for July
\n14.30 USA new jobs created outside of agriculture in August
\n16.00 US ISM Services Business Activity Index for August<\/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 1811,165 (+0,09%) EURUSD\u00a0 \u00a01,1876 (+0,02%) DJIA\u00a0 35482,50 (+0,16%) OIL.WTI\u00a0 69,795 (+0,06%) DAX\u00a0 15814 (+0,01%) Here we are waiting for the end of the week and with it the long-awaited…<\/p>\n","protected":false},"author":37,"featured_media":17595,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-18092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nCan the dollar regain ground? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Here we are waiting for the end of the week and with it the long-awaited US jobs report\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bernstein-bank.com\/en\/can-the-dollar-regain-ground\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can the dollar regain ground? 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