{"id":18165,"date":"2021-09-30T07:26:31","date_gmt":"2021-09-30T05:26:31","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=18165\/"},"modified":"2021-09-30T07:26:31","modified_gmt":"2021-09-30T05:26:31","slug":"is-it-the-beginning-of-a-weak-euro-period","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/is-it-the-beginning-of-a-weak-euro-period\/","title":{"rendered":"Is it the beginning of a weak Euro period?"},"content":{"rendered":"\n\n\n
\n

Gold<\/span>\u00a0 1732,785
\n(+0,39%<\/span>)<\/h4>\n<\/th>\n

\n

EURUSD<\/span>\u00a0 \u00a01,1606
\n(+0,07%<\/span>)<\/h4>\n<\/th>\n

\n

DJIA<\/span>\u00a0 34488,50
\n(+0,48%<\/span>)<\/h4>\n<\/th>\n

\n

OIL.WTI<\/span>\u00a0 74,785
\n(+0,09%<\/span>)<\/h4>\n<\/th>\n

\n

DAX<\/span>\u00a0 15319,50
\n(+0,01%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n

The energy crisis in Europe is challenging the development of the European economy. The heating season is starting and there is not enough gas in storage. Gas prices have already risen above $1,000 per 1,000 cubic metres, putting strong pressure on the European currency.<\/p>\n


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

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

Additionally, oil prices are causing further turmoil for the Euro. It would seem that further growth in oil is being held back by already high prices, but production problems in the Gulf of Mexico as well as the emerging power supply crisis in China are keeping the price of black gold quite strongly in check. What will happen in China next is not very clear. Coal prices have soared to record levels; China is forcing production to shift to a 3-4 day work week to smooth out electricity consumption. China is now trying quite bravely to start changing its production and switching to environmentally friendly fuels, including gas and oil. This makes the whole energy market look scarce and strengthens the US dollar quite a bit.
\nIn due course risky assets have been falling for several trading sessions. Investors are still wary of high inflation, which Jerome Powell talks about practically every time he gives a speech. And according to his statements, the high inflation zone will continue for some months to come.
\nUnfortunately the EUR\/USD broke through the yearly support zone located at 1.1690-1.1670. Demand for the dollar is still high, as many investors have started to switch from risky assets to cheaper bonds. In the near term, a rise in the pair is possible, as the dollar is strengthening almost all September and a correction is inevitable, but a trend change can only happen after the energy market cools down.<\/p>\n

08.00 UK second quarter GDP
\n14.00 German Harmonised House Price Index YTD
\n14.30 Annual US GDP data<\/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 1732,785 (+0,39%) EURUSD\u00a0 \u00a01,1606 (+0,07%) DJIA\u00a0 34488,50 (+0,48%) OIL.WTI\u00a0 74,785 (+0,09%) DAX\u00a0 15319,50 (+0,01%) The energy crisis in Europe is challenging the development of the European economy. The heating…<\/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-18165","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nIs it the beginning of a weak Euro period? | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"The energy crisis in Europe is challenging the development of the European economy.\" \/>\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\/is-it-the-beginning-of-a-weak-euro-period\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is it the beginning of a weak Euro period? 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