Sunset Strip (Afternoon Report) | Aussie market closed down on good volume after a big positive move yesterday

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) | Aussie market closed down on good volume after a big positive move yesterday. Aussie market was down 0.89% while turnover was just below $5.8b. Brokers continue to downgrade Iron ore. We maintain our view to rather be late to the party than Iron Ore miners below $85 if falling or buy above $93 if it bounces. AUDUSD bounced back to 94 cents with US weakness, but we continue to expect it to stay in the 90-94 range in the short term on safe haven basis and track down to mid 80's longer term. We remain cautious on the market in the short term due to risk outweighing return till the end of June. High risk stock pick of the day TIS (Buy $0.65). (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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