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General Election in the UK

by SignalFactory   ·  December 12, 2019 | 07:50:12 UTC  

General Election in the UK

by SignalFactory   ·  December 12, 2019 | 07:50:12 UTC  

Today there are no trading signals due to the General Election in the UK

Key Economic Events Today:

Today, the economic calendar is fully loaded with high impact events from the Eurozone and UK. The European Central Bank will remain in focus for the release of ECB rate decision while the main highlight of the day remains the British Parliamentary election.

Parliamentary Elections – All Day

Today, voters will elect 650 members to the United Kingdom’s Lower House of Parliament, from which a government will be formed. The winners will likely be projected before the official vote count is announced, based on early vote counts and exit polling. Today, the voters go to polls in an election that will cover the plan for Brexit under Prime Minister Boris Johnson or move Britain via another referendum that could eventually change the decision to transmit the European Union.

So far, almost all major impression polls recommend Johnson will succeed, though pollsters have a 2016 referendum bias, and their designs predict results varying from a suspended parliament to the biggest Conservative slide since the time of Margaret Thatcher.

GBP/USD is currently pricing in a Johnson win, but in case he loses, we may see a dramatic sell-off in it. Besides, his winning may also not drive sharp rises as it has already been priced in.

ECB Monetary Policy Meeting Accounts – 13:30 GMT

The European Central Bank is the main highlight of the day as it’s due to release the policy minutes from its previous press conference.

Christine Lagarde presides over her first-rate decision amid a budding controversy about the bank’s relaxed monetary policy while Lagarde is a squab that supported Quantitative Easing and low-interest rates.

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