Sunset Strip | Aussie market pulled out a small positive day despite the lack of strong positive global sentiment

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market pulled out a small positive day despite the lack of strong positive global sentiment. The recent strong China market performances on the back of improving data are buffering the global macro risk. Brokers are now pushing the concept that there may be a rate cut due to high interest rates, but we do not see RBA cutting rates to boost consumer spending. The consumers are being turned off by the employment outlook and lack of any initiatives from the government and/or business to change it. Consumers are aware that the rates will go up in the medium to long term with cost of living pressures and are reducing debt. Everyone has now turned negative on LEI...we maintain our call to Buy LLC and Sell LEI. Trading idea of the day: Carsales.com (CRZ)...now trading $11.50...more to come. (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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