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Consolidation Mode But Remains Bearish

AUDUSD TECHS

Fails To Hold Onto Thursday’s High

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'Big Tech' Bill Goes To Senate

COMMODITIES

Oil Up For Fifth Week On Supply Disruption, Geopolitics

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The latest opinion poll from outlet Survation shows the opposition centre-left Labour Party taking a three point lead over Prime Minister Boris Johnson's centre-right Conservative Party. This is the largest Labour lead in a Survation poll since July 2019, when former Prime Minister Theresa May had announced her intention to resign but before Boris Johnson took her place as Conservative leader.

  • Westminster Voting Intention: Labour: 39% (+2), Conservative: 36% (-1), Lib Dem: 9% (-1), SNP: 5% (=), Green: 3% (-1), ReformUK: 3% (-1). Via @Survation, 30 Nov - 1 Dec. Changes w/ 11-15 Nov.
  • The governments run of poor headlines continues into another week, with furore surrounding an alleged Downing St. Christmas party held in 2020 despite lockdown restrictions and ongoing concern about the spread of the Omicron variant hitting public support.
  • The Conservatives held the seat of Old Bexley and Sidcup in last week's by-election (albeit with a narrower majority), but face a much tougher test in the North Shropshire by-election on 16 Dec. A loss there would pile even greater pressure on PM Johnson at a time when patience among backbench MPs is wearing thin.