Quiet day ahead, all eyes on Parliament once again…
It’s another soft day for economic numbers. Like with Monday, much attention will be on UK Parliament once again.
Yesterday, Boris Johnson failed in his attempt to have a snap election on the 12th December 2019. Parliamentarians overwhelmingly declined the Prime Minister’s offer, placing the country in a further state of frustration at the clear political paralysis which faces us all.
There is potential for another route towards an election which will be put to the test today. Various parties, including the Liberal Democrats, have touted ideas around the idea of a 09/12/19 general election. Offering this date as it implies Parliament would need to be dissolved earlier, therefore allowing the PM insufficient time to process his WAB (Withdrawal Agreement Bill). However, with all the disharmony which currently lies within the House of Commons at present it’s unlikely anything will be agreed.
Elsewhere, today sees US consumer confidence and pending home sales. Japanese retail sales will be closely eyed in the evening session.
Written by Viv Savani. 8:30am, October 29th 2019
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