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Sunset Strip | Aussie market maintains the negative rage despite an Iron Ore recovery

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market maintains the negative rage despite an Iron Ore recovery. The market is currently waiting for clarity from US Fed on their interest rate outlook expected in the next 2 days. We are also heading toward school holiday break at the end of the week when the market will be handed over to predominantly retail investors. Iron Ore recovered above $85 and the question is where to next? Will it build up or fall again...flipping coin. BHP and RIO remain buy ideas when you look at the supply/demand and volume/margin dynamics. Market is now stuck trying to switch from yield to growth, but the problem is there is no marginal improvement in growth. Any stock with growth has already priced to optimum level while global macro keeps deteriorating. Trading idea of the day: BlueScope Steel (BSL). Tuesday's Retail Stock Pick: Woolworths (WOW). (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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