JAPAN: Voters Split On Preferred Outcome Of Upper House Elections

Jun-29 09:22

The latest opinion polling ahead of the 10 July elections for the upper chamber of the Japanese National Diet, the House of Councillors, shows respondents divided on the preferred outcome of the vote. An almost equal number of respondents want to see PM Fumio Kishida's centre-right Liberal Democratic Party (LDP) gain seats as those who want to see the opposition make gains.

  • NHK poll: Desired outcome of Upper House election: Government parties gaining seats: 24% (-), Opposition parties gaining seats: 28% (+1). +/- vs. 17-19 June 2022. Fieldwork: 24-26 June 2022. Sample size: 2,049
  • NHK poll: Approval for Prime Minister Kishida Cabinet: Approve: 50% (-5), Disapprove: 27% (+2). +/- vs. 17-19 June 2022. Fieldwork: 24-26 June 2022. Sample size: 2,049
  • NHK poll: Party Identification LDP: 36% (-2), Constitutional Democratic Party: 6% (+1), Ishin (Libertarian) 5% (+1), Komeito: 4.6%, No support: 34% (-), +/- vs. 17-19 June 2022, Fieldwork: 24-26 June 2022, Sample size: 2,049
Kishida's LDP and its coalition ally, the conservative Komeito party, currently hold a combined 137 seats in the 245-member House of Councillors. This is above the 123 required for a majority, but short of the 164 required for a two-thirds supermajority. The gov't already is short of a supermajority in the House of Representatives, limiting the prospect for constitutional change that has been a major political talking point in Japan over the past decade.

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UK: PM Johnson Least Popular Cabinet Member Among Conservative Members: ConHome

May-30 09:09

The latest survey from the ConservativeHome blog measuring the popularity of cabinet members among grassroots Conservative party supporters shows PM Boris Johnson at the bottom of the league table.

  • PM Johnson's popularity stands at a net -15.0, down from +6.6 in the April survey. He is the only Cabinet member with a negative rating.
  • Chancellor of the Exchequer Rishi Sunak has seen an improvement in his rating, up to +11.7 from -5.2 in the previous survey.
  • Defence Secretary Ben Wallace retains his position as the Cabinet member with most favourable ratings among Conservative members, standing at +85.0, the same rating as last month. Education Secretary Nadim Zahawi moves into second place with a rating of +66.2, up from +60.0 previously. Meanwhile, Foreign Secretary Liz Truss has fallen from second to fourth, with her rating down to +60.3 from +64.0 previously.
  • There remains significant speculation as to the short-to-medium term future of PM Boris Johnson. Following the publication of the Gray report into COVID lockdown breaking gatherings at Downing St a number of Conservative MPs have publicly stated that they no longer have confidence in Johnson's leadership.
  • Should 54 Conservative MPs submit letters calling for Johnson to go to the chair of the 1922 Committee, a confidence vote is held among Conservative MPs. If support for Johnson is below 50% then he would be removed as leader and cannot stand in the subsequent leadership contest. If it is above 50%, he remains leader and cannot be challenged again for 12 months.

EURIBOR: EURIBOR FIX

May-30 09:07
  • EUR001W -0.5690 0.0030
  • EUR001M -0.5450 0.0000
  • EUR003M -0.3540 0.0140
  • EUR006M -0.0680 0.0080
  • EUR012M 0.3610 0.0030

USD: AUDUSD edges to session high

May-30 09:03
  • AUD extends gains against JPY, NZD, and near session high versus the USD.
  • Some market participants will look at 0.7200 in AUDUSD next, but better is seen at 0.7245 50.0% retracement of the Apr 5 - May 12 bear leg