Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started positive on yield chase before getting smacked down by substantial global investor selling pressure after very poor GDP data yesterday and weak retail data today. The global investor reaction was logical as currency is expected to fall substantially post weak retail data and very weak GDP growth rate. We have ECB talking tonight and Jobs data out of US. It may be flat to positive global sentiment overnight, but we have to wait and see if the global selling is done in our markets. Tomorrow is Friday and investors are likely to play it safe and not take too much exposure into the weekend. If you are invested, it is a good opportunity to move from bad stocks to quality stocks. If you are looking to invest, wait and see if the global selling pressure is finished and then buy at the back end of tomorrow. China is closed for WWII events for today and tomorrow….atleast we don’t have to worry about Shangbang tonight. (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