Only time will tell, however, the one thing we do know is that extraordinary times create extraordinary opportunities and right now, this market is a traders’ paradise! Commodity Price Forecast Video for the Week of October 3 – 7, 2022 With the Fed and ECB hiking aggressively into a weakening economy – the big question is who will be next to switch on their money printing machines and revert back to quantitative easing again? The Bank of England’s actions represent the first big intervention from a G7 central bank in this monetary cycle to avert a global financial crisis – And it may not be the last! The bullish momentum also split over into Gold, Silver and other precious metals priced In British Pounds – sending them blasting through all-time record highs. The Bank of England’s announcement sent a long-list of commodities from Aluminium, Copper, Palladium, Platinum, Gold, Silver, Lumber, Oil and Natural Gas prices surging to multi-month highs – registering their biggest one-day move this year. Historical EventsĬentral bank interventions of this scale have not been seen since the Wall Street Crash in 1929, the Black Monday stock market collapse in 1987, the Global Financial Crisis in 2008 and more recently, the 2020 Pandemic. The UK bank’s extraordinary new round of quantitative easing will involve suspended a program to sell gilts – part of an effort to get rapidly surging inflation under control – and instead revert to buying long-dated bonds at a whopping rate equivalent to over $5.3 billion dollars a day. In one of the most major U-turns in monetary policy, ever seen – The Bank of England went into full financial crisis mode last week, rushing out an announcement that the central bank was restarting its money-printing presses at “whatever scale is necessary” – officially confirming that “QE To Infinity” was back! The Bank of England Went Back to QE Last Week
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