News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • (Commodities Brief) Gold Price Outlook: XAU/USD Top in Play as 10-Year Treasury Yield Rebounds? #Gold #XAUUSD #Fed #Bonds https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2021/06/15/Gold-Price-Outlook-XAUUSD-Top-in-Play-as-10-Year-Treasury-Yield-Rebounds.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/PZz6d4GCxt
  • Heads Up:🇮🇩 Balance of Trade (MAY) due at 04:00 GMT (15min) Expected: $2.3B Previous: $2.19B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/dObQjwTEpH
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/K8PLT8SVEb
  • We are within 48 hours of the FOMC rate decision and markets are clearly paying attention. The Dow is struggling while the SPX has edged a fresh record. Meanwhile, the Dollar is a deer in the headlines. I discuss what to expect for Tuesday trade: https://www.dailyfx.com/forex/video/daily_news_report/2021/06/15/Dow-and-SP-500-Diverge-Ahead-of-FOMC-Dollar-Holds-as-Gold-and-Yields-Slide.html https://t.co/J0H5HirVh0
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here: https://t.co/Xr3xtoFpZy https://t.co/kZJKbmUZs7
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.26% Gold: -0.23% Silver: -0.73% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0B7tF2adjQ
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.00% 🇨🇦CAD: -0.03% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.06% 🇳🇿NZD: -0.08% 🇦🇺AUD: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/VeKOeAWOt9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in EUR/CHF are long at 75.00%, while traders in France 40 are at opposite extremes with 79.57%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZYFoi1huEb
  • The Consumer Price Index, better known by the acronym CPI, is an important economic indicator released on a regular basis by major economies to give a timely glimpse into current growth and inflation levels. Learn how to better understand CPI here: https://t.co/nAa0fHHGbZ https://t.co/y0zq7YdcRf
How Boris Johnson Can Suspend Parliament by Using the Queen's Speech

How Boris Johnson Can Suspend Parliament by Using the Queen's Speech

Justin McQueen, Analyst

GBP Analysis and Talking Points

  • What is Prorogation?
  • When Did a Government Last Prorogue Parliament in Order to Circumvent Opposition Parties?
  • Queen’s Speech Scheduled for October 14th

See the DailyFXQ3 FX forecast to learn what will drive the currency throughout the quarter.

What is Prorogation?

Prorogation signifies the period between the end of a session of Parliament and the State Opening of Parliament that begins the next session. The parliamentary session could also be prorogued before Parliament is dissolved. The Queen would formally prorogue Parliament on the advice from the Privy Council, which tends to take place via an announcement on behalf of the Queen in the House of Lords.

This would bring an end to nearly all parliamentary business with all motions that have not been answered, or bills that have not obtained Royal Assent, not progress any further. Therefore, if the Prime Minister is concerned about MPs blocking a no-deal Brexit, the PM can advise the Queen to prorogue Parliament, which in turn would send MPs away so that they are unable to do anything in the Commons to hold up Brexit.

When Did a Government Last Prorogue Parliament in Order to Circumvent Opposition Parties?

The last time the government had prorogued Parliament in order to find a way through parliamentary opposition to government policy had been back in 1948, whereby a Labour government had instituted a short session of Parliament to overcome the House of Lord’s obstruction to what later became the Parliament Act 1949. The session began on September 14th and ended on October 25th.

Queen’s Speech Scheduled for October 14th

As Boris Johnson confirms that the Queen’s speech is set to be Scheduled for October 14th, it is increasingly likely that Parliament would be prorogued from September 9th till October 14th, making the window notably narrow for the opposition party to put forward a motion to stop a no-deal Brexit. Although, this has in effect raised the possibility that a no-confidence vote could take place in the first two weeks of September.

No-Confidence Vote Procedure

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES