BOE’s Bailey: QE at a time like this can prevent unwarranted tightening in financial conditions

BOE actions are not monetary financing

  • We have had encouraging news on the vaccine front
  • Vaccine news will play a major role in lowering level of uncertainty
  • We can now see some light at the end of the tunnel
  • But need to focus more on how the economy will look in the future
  • There are no grounds for complacency, expect BOE to be cautious

He sounds a tad more optimistic amid the recent vaccine news, as that may help to steer some of the pressure away from the debate on negative rates for now.

But as the UK economy continues to underwhelm and Brexit uncertainty reigns, it may be tough to distract from further easing measures for too long.

Further Development

analytics5fb3c10d0f5c4.jpg

Analyzing the current trading chart of EUR/USD, I found that the EUR/USD tested the median Pitchfork line with the bear divergence on the Stochastic oscillator, which is sign for the potential downside rotation.

My advice is to watch for selling opportunities on the rallies with the downside targets at 1,1840 and 1,1815.

1-Day relative strength performance Finviz

analytics5fb3c1169c762.jpg

Based on the graph above I found that on the top of the list we got Lumber and Cocoa today and on the bottom Ethanol and Nikkei 225

EUR is positive today but the momentum is decreasing…

Key Levels:

Resistance: 1,1890

Support levels: 1,1840 and 1,1815.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.