Trial now
GBPUSD TECHS

Approaching Key Resistance

BUND TECHS

(U1) Heading North

RBA

Uncertainty Noted, '22 GDP Exp. Marked Up

UK
UK: With PMQs underway, focus is beginning to switch to how the Brexit deal sees
passage through parliament. With one of the options bandied around being an
early UK election we look at the process for calling the election. Under the
Fixed Parliament Act, there are two ways to call an election:
1) A vote of no confidence is passed and no new government is formed by the end
of a 14 day period.
2) 434 MPs vote for a general election (2/3 of the House including any vacant
seats).
- In 2017 the second of these options was used with May announcing on 18 April
she wanted an election, the vote taking place on 19 April, the date of the
election set on 25 April, parliament dissolved 3 May and the election held on 8
June.
- There must be 25 working days between parliament being dissolved and election
being held. This makes it very unlikely an election can be called for 2018 as
even if parliament were dissolved today, the earliest an election could be held
would be 20 December.