Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Aussie market started negative and clawed back to positive territory on the back of strong commodity prices overnight and Asian markets holding. Now that we are past the US Fed problem for another month and a half, the markets will pay more attention to the result season in the US. As we wrote at the end of December, Jan was setting up as a profit taking month while Feb was likely to be the time for the recovery run…but it has come earlier than expected…trading buy signal was triggered at the end of last week as the stimulus hope starts to support market uncertainties. The currency holding up against every uncertainty and we see it heading back to 72 cents in the short term before the next leg down with falling employment data. We expect our market to trade up with the currency in the short term. (VIEW LINK)


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