Sunset Strip 24th August 2020

Mathan Somasundaram

Deep Data Analytics

The local market opened flat before the global investor took it for another ride on a currency chase while local investors were biting on the edges with reporting season volatility. 

It was another day of big portfolio trades and global currency trade while reporting season delivered some stock specific moves. Short covering is a beautiful thing if you are not short!

The RBA wants more action from the government to drive growth. Government is sticking to hope as a strategy on economy and geopolitics. US continues to remain the main risk with economic data continuing to show recovery cycle running out of puff as new consumer bailout deal unlikely in the short term. The election year means geopolitical risks will keep rising. The best three performing sectors were Tech, Telecom and Retail while the worst three were Energy, Banks and Property. 

Remain nimble, contrarian and cautiously pragmatic with elevated global macro risks!!!

The Sunset Strip Afternoon Report is available on the PDF below.

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Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 30 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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