Sunset Strip > Trading Day Wrap From Blue Ocean 20170523

Mathan Somasundaram

Deep Data Analytics

Local market jumped up on the global optimism before fading into a negative day on the back of terror attack in UK and US budget requests. The best performers were Gold, IT and Retail while Banks, Miners and Telcos were the worst performers. Since the start of Q2, we have had every trading Monday as a positive day and weekly performance has positive every alternative week > we’ve had another positive Monday today…time will tell if the week remains positive on a macro light week. Commodities remain volatile with macro risk…China shutting polluters while Iron Ore stocks pile at historical high levels…OPEC flagging more cuts for longer to keep prices high…weak USD continues to support. US budget requests to be delivered tonight…expecting some US$3.6 trillion worth of cuts to support to low income and health sectors…should support tax cuts and infrastructure but will be negative for US retail…will run into road blocks within the Republican party as mid-term election worries pick up.


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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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