Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started negative on commodity weakness and then ran into Yuan devaluation, weak wages growth and housing bubble worries that knocked the air out of it. PBOC again moved the peg down for Yuan and sent the market into worry mode on how far the devaluation will go. Iran poured cold water on any deal to limit their supply increase as they re-enter the global markets. Saudi Arabia has delivered more positive comments in the last week than in the last 6mths. Everyone is bleeding and Saudi Arabia may be beginning to look at deals to stabilise oil price. The world needs to stabilise oil price and then allow the supply demand to reach equilibrium. US data overnight showed weaker consumer data and the markets are worried the housing and services data out tonight are also likely to be on the weaker side. Despite the market mauling, the currency is holding up like a rock while commodities fall around it. The domestic market was given another reality check that wages growth barely holding above inflation....…. (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.


Please sign in to comment on this wire.

trending on livewire
Get the best of Livewire by signing up to our popular daily newsletter