UK: Focus on politics - TDS

Analysts at TD Securities point out that for UK data today, we just have CBI industrial orders, where markets are looking for an unchanged reading of -15 in July, but more interestingly, today the Conservative Party announces the winner of the leadership contest, and therefore the next Prime Minister, at 11am.

Key Quotes

“While Boris Johnson is widely expected to have won, we may see some small market reaction around the revelation of the scope of his win; a clear vote share of something like 80%/20% would be seen as a clearer mandate for a hard Brexit, while a narrower vote of more like 60%/40% would suggest that there's a strong appetite for a more conciliatory tone.”