The Australian state of Tasmania will hold a snap state election on 23 March following the refusal of two independent members of the state legislature to negotiate a new governing agreement with the incumbent minority Liberal adminstration of Premier Jeremy Rockliff. This will be the first state election since New South Wales voted in March 2023 to oust the incumbent centre-right Liberal-National coalition in favour of a minority centre-left Labor administration. While Tasmania sits as Australia's smallest state in terms of population and size, with Queensland voting later in 2024 and the next federal election due by Oct 2025 at the latest, the Tasmanian vote could be used as a bellwether for broader gov't support.
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Treasuries are holding on to the bulk of their recent gains and price remains above 111-06+, the Jan 5 low. The latest recovery suggests that the recent correction lower, between Dec 27 - Jan 5, may be over. If correct, this signals scope for a climb towards the key resistance and bull trigger at 113-12, the Dec 27 high. Clearance of this level would resume the uptrend and open the 114-00 handle. Key pivot support lies at 111-01+, the 50-day EMA.
The MEF has announced it will hold an exchange via the electronic trading system on Wednesday 17 January. On offer will be: