Sunset Strip | Aussie market was again hit with falling oil prices and slowing China data

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market was again hit with falling oil prices and slowing China data. The RBA continues to talk down the currency and stability of interest rates. If they succeed in getting it down below 80 cents with falling consumer sentiment and negative domestic data, then we will not get the rate cuts in 2015. Recent Sydney siege is not going to help the shrinking consumer spending. MYEFO was exactly what the Treasurer should have done at the start...set expectations at the bearish point, have no growth plan, argue for cuts and then deliver the corporate tax cut and budget upgrade in 2015/16...just before the next election cycle. We really like the surplus forecast...far far away. Any budget forecast outside the election cycle is worthless. Oil decline keeps hitting the market globally...currently at an interesting technical support leg 10% lower....who knows where the oil slide will stop. US Fed comments on Thursday our time will be the next big catalyst. Recent negative China data again raises the question of more stimulus. (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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