Brexit: The surge in remain support is a mirage – TDS

James Rossiter, Senior Global Strategist at TDS, notes that the last two weeks have seen an apparent widening in poll results in favour of a Remain win, with polls more often showing a 10-point lead than not.

Key Quotes

“Commonly-reported moving averages of opinion polls also show this pick-up.

This does not reflect a shift in view of the electorate, but rather a shift in polling methods. Looking through some of this noise, a more stable pattern emerges that suggests little change in view by voters.

Going forward, we recommend tracking developments in online and telephone polls separately.”

Apr 28, 2016

AUD: Online retail sales increases 12.4% to $19.3 billion in March- NAB

Alan Oster, Research Analyst at NAB, notes that the Australian consumers spent an estimated $19.3 billion online in the past year, primarily on homewares, groceries, media and fashion.

Nikkei slumps 3% on BOJ’s inaction, drags rest of Asia lower

The stocks on the Asian bourses reversed course dramatically after BOJ’s monetary policy decision disappointed markets and dampened investors’ sentiment. Japan’s Nikkei witnessed heavy selling and drove most major Asian indices lower.