Sunset Strip | Aussie market followed the global trend with a slight negative day after seven straight positive days

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market followed the global trend with a slight negative day after seven straight positive days. The weekend left us with US Fed moving from dovish stand to neutral while ECB sounding a bit shallow. There were more thought bubbles from the federal government which only served to further confuse the already muddy budget situation. House prices are under scrutiny again...we continue to see over supply of units changing the dynamics in 1-2 year time frame while affordability and unemployment to drive down house prices in outer suburbs in the next 1-2 year time frame. Iron Ore falling in recent days with China credit crackdown and property woes will really wobble Iron Ore stocks if it gets below $90. Trading idea of the day: Vita Group (VTG). Monday's Macro Stock Pick: Flight Centre (FLT). (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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