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Market Reports

9:02am, September 10th 2019

PM Johnson loses another vote, Parliament suspended until 14th October…

The Prime Minister had another day to forget yesterday, losing his 6th consecutive Parliamentary vote. Once again, his plight for a snap election was voted down. This puts the new PM in an increasingly tough spot. Parliament has now been suspended until mid-October and it is now understood that Johnson, with the aid of his close colleagues, will franticly attempt to find a loophole around the new piece of legislation blocking a no-deal departure on the 31st October.

Yesterday afternoon the speaker of the House, John Bercow confirmed he would stand down on the 31st October should a general election not be voted for. Bercow has been a thorn in the Leaver’s side or a beacon of light for the Remainers; he’s undeniably been a focal point within certain parts of the Brexit process. He will now be standing down and removing himself from what is set to be a tumultuous period of the ongoing saga.

Today’s calendar it a quiet one with only a single piece of tier 1 data which happens to stem out of the UK. This morning sees another snapshot of the UK labour market. A consistent bright spot of the economy. The outlook is set to remain solid with job creation continuing, albeit at a slower pace, and wages rising too.

Written by Viv Savani. 9:02am, September 10th 2019

The details expressed in this market report are for information purposes only and are not intended as a solicitation for funds or a recommendation to trade. Cornhill International Payments limited accepts no liability whatsoever for any loss or damages suffered through any act or omission taken as a result of reading or interpreting any of the above information.

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