Sunset Strip (Afternoon Report) - Aussie market closed up following positive global lead with better US data

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) - Aussie market closed up following positive global lead with better US data. Commodity price sentiment improved further today with rising Iron Ore and better Copper price outlook due to Chile earthquake risk to the largest copper producer. 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. It was an overall positive day with big miners tipping the scale. Copper stocks were the winners and GFF was the loser for the day. (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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