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

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) - Aussie market closed slightly up following similar global lead as markets wait on US job data out Friday. China stimulus plans did not get the resource sector moving. 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, better than expected China data and more accommodating US Fed. Global markets are likely to be aimless again ahead of the US job data, which will then likely to translate to a slight negative Friday for Australia as investors lock in some profit before the weekend. (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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