Weekly outlook: investors are waiting for the ECB package. Focus on gold, euro and oil! – columns
Friday,
December 4th, 2020
18:55
from onemarkets blog
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In the past week, the stock markets largely treaded on the spot. Good economic data and the approval of BioNTech / Pfizer’s corona vaccine were not enough to encourage investors to buy. The continued high number of people infected with corona, the ongoing Brexit negotiations and the debates about another corona aid program in the USA slowed the buying mood. The DAX® closed 0.3 percent easier on Friday than a week earlier and the EuroStoxx®50 ended the week at the previous week’s level. In the coming week, numerous economic data are again due to be published and the ECB meeting. Investors will be particularly excited about the package of measures announced by the ECB.
Most government bond yields rose in the bond market. The yield on 10-year US Treasuries rose to its highest level since March 2020 and approached the 1 percent mark. Gold and silver turned north after a weak start to the week and made up a large part of the previous week’s losses. The price of gold felt its way to the $ 1,850 mark at times and silver settled above $ 24. The precious metal received support mainly from the weak US dollar. The euro / US dollar exchange rate rose to 1.215 US dollars by the end of the week, the highest level since spring 2018. The oil price also rose – for the fifth week in a row. The quotation for a barrel of Brent Crude Oil scratched at the 50 US dollar level. The black gold benefited from the decision of the OPEC + states to increase production by only 50,000 barrels from January.
Company in focus
In the past week, most of the standard values moved in a narrow range. The price increase in was noticeable Munich Re. and SAP. The reinsurer is quite confident for 2021 and has thus convinced investors. The SAP share fixed above 100 euros over the course of the week. With the revision of the targets and the prospect of lower margins in the short term, the group frightened many investors in October. Confidence is now returning very slowly. In the second row booked among other things Airbus, Fraport and Siltronic significant price gains. Airbus and Fraport are two winners of a corona vaccine. Siltronic benefited from a planned takeover by the Taiwanese company Global Wafers. Deutsche Börse has decided that Siemens Energy to replace the Grenke share in the MDAX®. However, this has not yet resulted in any major buying impulses for the newcomer to the stock market.
Deutsche Bank, Gerresheimer and Munich Re. invite you to investor day next week.
Important appointments
- China Foreign Trade, November
- China Consumer Prices, November
- Germany – industrial production, October
- Germany – ZEW economic expectations for Germany
- France – industrial production, October
- Europe – Eurozone GDP Q3, second estimate
- Europe – ECB interest rate meeting
- United States – Initial Jobless Claims for the Week Ending Jan. December
- UNITED STATES – Consumer prices, November
- UNITED STATES – Uni Michigan Consumer Confidence, December
Chart technical outlook
Resistance marks: 13,290 / 13,320 / 13,370 / 13,440 / 13,460 points
Support marks: 13,050 / 13,150 / 13,200 / 13,230 points
The DAX® closed the week with slight gains and thus broke out of the short-term downward trend. At the end of the week, the index settled at the resistance level of 13,290 points. Markets could receive new impulses next week. Above all, there are high expectations attached to the ECB decision. If the breakout succeeds above 13,290 points, there is a chance of a price increase to 13,320 points and then to 13,440 points. On the downside, the DAX® finds a support zone at 13,200 / 13,230 points.
DAX® in points; Hourly chart (1 candle = 1 hour)
Observation period: 11/11/2020 – 04/12/2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: December 5th, 2013 – December 4th, 2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
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Call warrants on DAX® Index for speculation on an increase in the index
| Underlying | WKN | Selling price in EUR | Base price / knock-out in pts. | Last valuation day |
|---|---|---|---|---|
| DAX® index | HR1PQW | 8.19 | 12,900 | March 16, 2021 |
| DAX® index | HR1PRA | 7.00 | 13,450 | June 15, 2021 |
Source: HypoVereinsbank onemarkets; December 04, 2020; 5:35 pm
Put warrants on DAX® Index for speculation on a price loss of the index
| Underlying | WKN | Selling price in EUR | Base price / knock-out in pts. | Last valuation day |
|---|---|---|---|---|
| DAX® index | HR1PQZ | 5.75 | 13,300 | March 16, 2021 |
| DAX® index | HR1PRG | 6.53 | 12,900 | June 15, 2021 |
Source: HypoVereinsbank onemarkets; December 04, 2020; 5:36 pm
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The article Weekly Outlook: Investors are waiting for the ECB package. Focus on gold, euro and oil! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Richard Pfadenhauer
http://blog.onemarkets.de
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