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Sunset Strip | Aussie market followed the Canadian market with a flat performance despite positive global lead

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market followed the Canadian market with a flat performance despite positive global lead. The higher than normal volumes persists in school holiday period which suggests that global investors continue to sell out of Australian market with domestic economy and currency worries. RBNZ was able to jawbone a drop in AUDUSD better than RBA...and they were not even trying. RBNZ said NZD was overvalued and AUD got hit as collateral damage. We continue to remain positive from current levels as the alternative investment options are limited. Looking at the positive catalysts for our market (1) just short of $7b worth of dividends to hit shareholder accounts this week etc etc. Trading idea of the day: Henderson Group (HGG). Thursday's Thematic TMT Pick: Telstra (TLS). Next rant on 1st Oct...on holidays!!! (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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