Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market continued the flip-flop daily performance since last Wednesday by delivering a positive day despite negative US sentiment, falling commodity prices, RBA rate cut decision next trading day and institutional investors taking risk off before school holidays and four day weekend. Yesterday I sent a few clients an April Fools email saying Iron Ore has hit US$37.50, but the reality of it hitting below US$50 overnight shows that a price below US$40 is not as farfetched as previously expected. Turnover was just above $5.0b. US market continues to hover around the technical support level with fear and greed index remaining well into the fear zone. We felt that Feb cut was a wasted cut and it delivered no consumer recovery or currency deflation while making the asset bubbles worse. Any rate cut in April will further inflate the asset bubble and deliver no improvement in consumer sentiment while delivering marginal currency effect. As a very wise old man once told me “life is all about cycles, you evolve with the cycle or the cycle runs over you”.

Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment