Sunset Strip > Trading Day Wrap From Blue Ocean 20170616

Mathan Somasundaram

Deep Data Analytics

Local market finished slightly positive to end the week despite weaker commodities and flat AUDUSD. Market still digesting the US Fed outlook….US leading the sentiment and China MIA for now. China delivered a big cash injection to cater for the seasonal cash crush…but sentiment still weak. The best performing sectors were Utilities, Property Trust and Retail while the worst performers were Gold, Industrials and Miners. USD starting to show some life…but we need that to follow through. AUDUSD holding up better than what commodities can support due to weak USD. Gold is weak as market is betting USD will strengthen. We are either going to see AUDUSD fall or gold rise…time will tell. BOE, ECB and now BOJ are talking about tightening…but not setting any time frame…rates are not going lower but they are not going to go up anytime soon either. Central banks MIA everywhere!!!

 

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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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