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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