{"id":18149,"date":"2021-09-24T07:34:19","date_gmt":"2021-09-24T05:34:19","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=18149\/"},"modified":"2021-09-24T07:34:19","modified_gmt":"2021-09-24T05:34:19","slug":"the-dollar-is-in-trouble","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/the-dollar-is-in-trouble\/","title":{"rendered":"The dollar is in trouble"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1751,355
\n(+0,52%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1737
\n(-0,01%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 34623,50
\n(-0,11%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 73,375
\n(+0,24%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 15645
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

So the Fed meeting is over. Of course, many people were expecting some specific statements from it, but we did not get anything much. Jerome Powell said that he keeps pumping money into the system and thus maintains a favourable atmosphere for economic growth, and very briefly hinted that we will talk about future plans in October, when there will be more stable data on unemployment and inflation after all.<\/p>\n


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

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

The dollar is under attack. Not only has the Fed only hinted at a possible announcement of a plan to roll back support only in October, but problems with a possible default are increasing in the USA. Republicans are in no hurry to accept increased limits because of disagreement with Biden’s economic programme. If the congress does not agree on raising the debt ceiling, the Treasury will run out of money in October. That in turn will lead to a suspension of state employees’ salaries and various allowances. Such a situation would definitely put additional pressure on the US economy.
\nWhat does all this mean for the currency market? At the moment all central banks continue their programs to support the economy. But the practice shows that when investors start buying risky assets again, the dollar sinks. Because most commodities and stocks are traded in USD.
\nTherefore now after the meeting EUR\/USD has a good opportunity to rise to 1.1820 and then to 1.1890 -1.19 in the medium term. If there are more problems with the sovereign debt ceiling, we could see short-term moves up to 1.1950.
\nOf course the European Central Bank will be watching the situation closely as Europe does not need an expensive Euro and is likely to make some manoeuvres to mitigate the fluctuations.<\/p>\n

01.30 Japan National Consumer Price Index YTD
\n13.00 IFO business optimism gauge in Germany
\n16.00 New home sales in the US 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 1751,355 (+0,52%) EURUSD\u00a0 \u00a01,1737 (-0,01%) DJIA\u00a0 34623,50 (-0,11%) OIL.WTI\u00a0 73,375 (+0,24%) DAX\u00a0 15645 (+0,01%) So the Fed meeting is over. Of course, many people were expecting some specific statements…<\/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-18149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nThe dollar is in trouble | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"So the Fed meeting is over. 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