Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started flat and trended down before getting hit by domestic growth scare with current account deficit blowing out and global growth scare with China PMI falling again. China continues to support their equity market while putting restriction on speculation trading on Yuan. The market remains spooked with Chinese leadership unpredictable moves. Investors took money out of the market with banks at the top of the sell list as US and Euro markets are likely to trade negative on further China worries while our market is likely to face a dismal growth number tomorrow when you put the current account deficit into context. US manufacturing data tonight will most likely further support the US rate rise, but we don’t think they will move till the end of Q4 at best. RBA left the rates unchanged as expected given that they are a sideshow the the main global game being played out by PBOC and US Fed. Australia is going through a sleepwalk to low growth abyss with no growth plan. (VIEW LINK)

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