US: Polarisation Over Economy/Direction Of Country Increases Under Trump
Axios reports that Republican satisfaction with the “way things are going” is at a “near-record high”, while Democrats are “shadowed in gloom” according to survey data from CBS.
- Axios notes: “79% of Republicans say they're satisfied, a near-record high. The outlook for Dems is bleak, with just 4% satisfaction. Partisan outlooks have changed far more dramatically than economic indicators.”
- Axios: “In September 2024 — just before Election Day — only 13% of Republicans felt at least fairly good about the economy, compared to 67% of Democrats, per a CBS News poll. Fast-forward to last week, and the tables have turned: 64% of Republicans said the economy is at least fairly good, compared to 22% of Democrats.”
- Economist-YouGov polling of U.S. adults between May 30 and June 2 showed that 57% of Republicans believe the economy is getting better, compared to just 8% of Democrats. Among those who voted for Trump in 2024, 61% think the economy is on the rise. Only 6% of Harris voters agree, per Axios.
Figure 1: “Share of Americans who say they are satisfied with the way things are going in the US”
Source: Axios
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US: FED Reverse Repo Operation
RRP usage recedes to $124.690B this afternoon from $147.882B Friday. Usage had fallen to $54.772B last Wednesday, April 16 -- lowest level since April 2021. Conversely, usage had surged to the highest level since December 31, 2024 on Monday, March 31: $399.167B. The number of counterparties at 32.
MNI EXCLUSIVE: MNI Interviews ISM Services Chief on Growth Outlook
- MNI interviews ISM services chief on growth outlook -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com
GBPUSD TECHS: Retracement Mode
- RES 4: 1.3605 1.236 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 3: 1.3550 High Feb 24 ‘22
- RES 2: 1.3510 1.236 proj of the Feb 28 - Apr 3 - 7 price swing
- RES 1: 1.3444 High Apr 28 / 29
- PRICE: 1.3307 @ 15:01 BST May 5
- SUP 1: 1.3257 Intraday low
- SUP 2: 1.3225 20-day EMA
- SUP 3: 1.3041/3035 Low Apr 14 / 50-day EMA
- SUP 4: 1.2968 Low Apr 11
The latest pullback in GBPUSD is considered corrective. A bearish tweezer top formation on the daily candle chart last Monday/Tuesday, highlights a short-term top. Support to watch lies at 1.3225, the 20-day EMA. A break of this level would signal scope for a deeper retracement. Note that moving average studies remain in a bull-mode position, signalling a dominant underlying uptrend. Sights are on 1.3510, a Fibonacci projection.
