Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie markets got belted from the start with negative global sentiment on US interest rate worry and NZ rate cut driven currency worry. Global sellers started the slide and local investors joined the selling. Currency fell originally after NZ cut rates, but the better unemployment data and China inflation supported its recovery. Chinese inflation data was better than expected while purchasing price index was worse than expected. Chinese leaders are out pushing the stability and recovery mantra to the global markets. Unemployment move back from 6.3% to 6.2%, but this series has been volatile and we expected a pullback after big fall in the past month. We remain of the view that the sampling effect delays the real unemployment from being realised and we will see it get close to 7%. Euro markets should fall overnight to catch up while US markets likely to have a slightly positive one with weekend approaching. We are unlikely to see buying tomorrow as it’s a Friday and investors prefer to not increase exposure into a weekend with high volatility. (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...

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