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Sunset Strip (Afternoon Report) - Aussie market closed slightly up following flat global lead as markets wait on US job data out tonight

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) - Aussie market closed slightly up following flat global lead as markets wait on US job data out tonight. China stimulus plans and reassurance from ECB to print if needed also did not change the sentiment dial. Since the markets have priced in manufacturing slowdown on a global basis, US/Euro action against Russia have been irrelevant and China slowdown reduces credit risk, we have turned short term positive (i.e. on 25th March) with local markets to benefit from nearly $10b dividends being reinvested, better US data, China stimulus plans and more accommodating US/Euro Fed. Uncertainty in the market drove it to take profit on high growth/cyclical stocks and cover shorts ahead of US Job data tonight. The US reaction will set the sentiment for next week. We have had 3 consecutive relatively low volume days as market waits for solid direction from US. (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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