The Conservative Party have, at the time of writing, secured 364 seats which gives it a clear majority in Parliament and prompting Jeremy Corbyn to say he will not lead the Labour party into the next election. This also followed Jo Swinson’s loss in Dunbartonshire East and the Liberal Democrats have announced that she would be stepping down with a leadership contest that would be held in the New Year. Meanwhile, following the strong showing of support for the SNP, Nicola Sturgeon has vowed to demand powers for a Scottish independence referendum.
There are no economic data releases of note in the UK, or the Eurozone. In the US, the November CPI is forecast to show a small rise in annual headline inflation to 2.0% (from 1.8% in October), while the core reading is expected to hold at 2.3%. For now the Fed remains more concerned that its preferred inflation measure is still below target.