Gold 1626,16
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EURUSD 1,1068
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DJIA 22171
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OIL.WTI 23,095
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DAX 10078,50
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On Thursday, serious data on the state of the economy in the U.S. and other countries were released. We received 3.28m of initial jobless claims in the US, compared to 282k last month, with the current month forecast of 1.6mn. This is the number of people in the US who have been unemployed and are in search.
Chart of the Day EUR/USD
What’s going to happen next. All countries start printing money. In the U.S., companies will receive this money within the next three weeks. Many experts say that all current activities of the central banks are very much like those during the World War. When the printed currency is spent on its own needs and also will be redirected to individual countries in exchange for goods or other services. In this situation, the issuer country is on the plus side, as their money walks around the world and they benefit from acquired technologies, goods, etc.
Euro
The Euro currency has been very optimistic in recent days. Of course, when major central banks of developed countries start pumping their economies with money, a certain balance appears. Therefore, the situation with the Eurocurrency will be similar. The average price of the Euro against the U.S. dollar fluctuated at 1.15-1.20. Therefore, in the current situation the price will tend to the balance level and will soon reach serious resistance levels. On Thursday the Euro is rising and trades at the level above 1.1030.
Gold
Gold keeps trying to go even higher than on Wednesday. Metal is always a priority. Especially if it happens in a situation where all countries start printing a lot of money. During World War II, gold was the main means of settlement between countries because there was so much money that no one took it into account. If the countries decided to use the tactics of issuing money as during the war, gold will become more expensive. Because only hard metal will cost real money. It will be carried, exchanged, traded and only gold will have real value.
Oil
If oil supplies do not decrease, very soon the whole world will face an oversupply of this raw material, and as a result, the price will drop drastically. Due to the low oil prices, shale oil production in the USA may drop to a minimum, which will lead to further cuts in the workers in this field. Many countries are beginning to realize that excessive oil production is only harming the global economy and are thinking about reducing revenues. Brent oil is traded at $28.5 per barrel.
What’s waiting for us today?
08.00 UK Housing Price Index
13.30 Price index of expenses for consumption index in USA
18.00 Total number of rigs in USA
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