Sunset Strip | Aussie market pulled back with global lead on US growth, Euro stimulus and falling commodities worries

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market pulled back with global lead on US growth, Euro stimulus and falling commodities worries. US job data was mixed...more jobs and no wage growth. Interestingly Apple has raised the appstore charges by 10-20% due to currency effects. US corporate reporting season is coming and currency is going to play a part. Spot gold has done well in recent weeks with country risks in Euro as well as weaker USD on US growth worries. Some gold miners should be pulling good margins with stable spot gold and falling currency....we like BDR, NST and SAR. AUDUSD moved hard to 82.5 cents with US mixed job data and good local job ads data. Volatility index is holding on mid-teens and waiting to get a signal from US before moving in either direction. Small business survey pointed to more job cuts despite local job ads data being positive. Housing finance data shows cooling house prices...but falling rental yields and oversupply of units run the risk of creating bubbles in certain parts of Australia for margin investors. (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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