Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market started relatively positive and the optimism subsided through the day to finish a slight positive. Banks and Resources were the main drivers again, but there were signs of profit taking from the morning pop. The global investors were back buying banks and miners as the currency moved up, but they will also sell out as the currency starts the eventual decline. The short term optimism on backward looking domestic data will not last too long while any move by US Fed to raise rates will accelerate the global selling on the back of strengthening USD. Save some gun powder as the market is likely to pullback in early March with US Fed meeting coming up. We expect another mini recovery rally in the back half of March after the US Fed leaves rates unchanged. In the meantime, keep an eye on the gold equities as market risk rises with US Fed meeting and old media stocks like APN, PRT, SXL and FXJ with the industry moving to consolidation phase after regulatory changes............…. (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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