Sunset Strip (Afternoon Report) | Aussie market pulled back on macro worries and falling iron ore price before recovering to close slightly ahead

Mathan Somasundaram

Deep Data Analytics

Sunset Strip (Afternoon Report) | Aussie market pulled back on macro worries and falling iron ore price before recovering to close slightly ahead. Aussie market closed up 0.13% while turnover was just below $4.0b. Today was a low sentiment below average volume day with no real global lead with global and macro worries hanging over the market like a bad smell. RBA comments about unemployment rising and wages growth falling supports our domestic economy view while Access Economics see retail sales on structural decline after 2015 with disposable income falling. No matter how you look at it, the next 2 years of rising unemployment tidal wave with rising cost of living and falling real wages will keep consumer sentiment low. (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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