sentix Survey results (21-2018)

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First ray of hope in strategic bias

In Strategic Bias, the first signs of stabilization are visible, but it is still too early for a turnaround, especially as the bias against the southern euro countries has fallen further. Investors reduced equity positions slightly in May, which improved the risk situation. At Bonds, we measure a positive sentiment impulse. Fundamental confidence continues to grow against the US dollar, but the chances of an interim EUR-USD recovery increase in the short term.

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sentix Investmentmeinung 20-2018

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Pause im USD-Aufwertungstrend

Lange hat es gedauert, bis sich die Datenlage durchgesetzt und der Euro-Aufwertungstrend ein Ende gefunden hat. Dafür ging die Korrektur von 1,24 binnen 4 Wochen bis auf das aktuelle Niveau von 1,18. Diese Korrektur hat zwar wenig an den treibenden Kräften geändert, dafür aber einiges in der Stimmung der Anleger. Wir machen eine Bestandsaufnahme.

Geänderte Einschätzungen: EUR-USD

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sentix Survey results (20-2018)

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Overconfidence in Europe

The situation on the stock markets remains characterised by relatively weak basic confidence. At the same time, the straightforward increase in recent weeks has favoured overconfidence in Europe. For bonds and Gold, we are receiving positive signals from the TD indicators. In the FX area, on the other hand, the mood has clearly changed pro USD. This could take a breather in the USD trend.

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sentix Investmentmeinung 19-2018

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Starke Öl- und Aktien-Signale

In der letzten Woche reduzierten wir unsere Öl-Position, um der Möglichkeit eines Überschießens nach oben Rechnung zu tragen. Dies trat auch ein, hat aber dadurch zu einem neuen Sentiment-Signal geführt. Entsprechend handeln wir erneut. Auch bei Aktien tut sich was: Während die Stimmung steigt, bleibt der Strategische Bias schwach. Daraus entsteht ein neues TD-Signal. Und auch die Overconfidence ist bemerkenswert.

Geänderte Einschätzungen: DAX, EuroSTOXX 50, Rohöl

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sentix Survey results (19-2018)

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Cheers at the oil market

On the European stock markets, overconfidence signals are mating with new lows in strategic bias. The negative mix is reinforced by extreme values in the time difference indices. Conversely, US bonds are benefiting investors. Here, the basic medium-term confidence increases. Emotions are also high on the oil market. Low neutrality index values and high optimism continue to indicate a high risk situation.

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