Sunset Strip | Aussie Afternoon Institutional Market Wrap

Mathan Somasundaram

Deep Data Analytics

Aussie market showed some strength today to finish slightly in the black despite negative global lead and weaker commodities. Commodities are in for a double hit as the Chinese government takes away the sugar hit that boosted Q1 growth while also squeezing the speculators out of the commodity market. The currency trend suggests that USD will strengthen from here. Stronger USD will be negative for commodities, AUDUSD and Aussie market. Commodities have been falling like “election promises” in the past few days and we expect that trend to continue. Oil might get some support short term due to the wild fire in Canada and the African unrest. The retail data and the housing data out today were positive. Given that we have not had any substantial negative data apart from the inflation for one quarter, RBA will have to explain tomorrow on why they moved in May. We are in the “Sell in May and Go Away” period for the US market and volatility index is pointing to profit taking. (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.