Sunset Strip | Aussie market followed the global sentiment down after the Swiss currency change fiasco sent shivers through currency traders

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market followed the global sentiment down after the Swiss currency change fiasco sent shivers through currency traders. The commodity market now looking at 4 commodities on a daily basis to set the market trend while our view on them are (1) Gold - HOLD (2) Iron Ore - HOLD (3) Oil - SELL (4) Copper - HOLD. We warned clients with short term perspective to take profit on Wednesday with macro and technical indicators moving into negative territory. The Swiss move to protect their currency shows that ECB will move on QE, but the question remains on the size of QE. US reporting season continues to disappoint with main indices moving below 50 day MA and 100 day MA on technical basis. There seems to be more and more chatter that China will do more targeted small scale stimulus while Japan is working through their structural issues. The negative sentiment likely to last till ECB comes out with QE details at the end of next week. (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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