Media from around the globe, including the UK, are buzzing with news and updates in anticipation of the coronation a new monarch in Britain, for the first time since the turn of the century. This will be the first British coronation to be broadcast in color on television and live tweeted around the world. How will this impact the markets?
In addition, there will be an extra holiday in the UK on Monday. This is known to reduce trading volume. London remains the biggest financial center in Europe, despite Brexit. Interestingly, the stock exchanges are expected to remain open, despite the fact that many European countries have declared public holidays in honor of the end WWII. Trading volume in the European session will be lower, since most corporate reports and major news have been pushed to Tuesday.
What is likely to move the market in 2019?
Generally, large-scale public events like this one tend to boost positive emotions. A history of market reactions to emotional public events shows that traders are not cold, methodical and calculating. The Queen’s Jubilee, the previous event comparable to the upcoming coronation, saw general sentiment support the pound in…
