Monetary Policy Decision - 17 Sep 2020
- Prior 0.10%
- Votes 0-0-9 vs 0-0-9 expected
- Asset purchase program total £745 billion vs £745 billion expected
- Bank of England says MPC had been briefed on the the BoE's plans to explore how a negative bank rate could be implemented effectively. (seen some GBP selling on that headline)
- Total stock of asset purchases to £745 billion around the turn of the year
- Market contacts had expressed concern over recent Brexit developments
- Outlook for economy looks unusually uncertain
Further Development
Analyzing the current trading chart of Gold, I found tthat there was the rejection of the upper trendline of symmetrical triangle and there is posibility for the breakout very soon to happen.
1-Day relative strength performance Finviz
Based on the graph above I found that on the top of the list we got VIX and Sugar today and on the bottom Platinum and Silver.
Key Levels:
Resistance: $1,975
Support level: $1,915
