Sunset Strip | Aussie market recovered to close a lower negative day than global lead after strong China trade data
Sunset Strip | Aussie market recovered to close a lower negative day than global lead after strong China trade data. Market volumes were once again below $4b with a substantial amount of insto clients still on holiday or on holiday mode. Spot gold continues to ride up on country risks in Euro and weaker USD due to US growth worries. We continue to like some small cap gold miners with good margins on the back of stable spot gold and falling currency (i.e. BDR, NST and SAR). The Aussie market is stuck in a trading band with no real strong sentiment in either direction while commodity prices and currency keeps moving down. AUDUSD moved back below 82 cents and Volatility index is holding on mid-teens. We need to see some solid $5b trading days to see if we are going to maintain the volatility at these levels. I expect we should see high volumes next week and should see the market start to trend one way or another. (VIEW LINK)
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...