Sunset Strip > Trading Day Wrap From Blue Ocean 20170726

Mathan Somasundaram

Deep Data Analytics

Local market moved higher on better commodity prices and positive US reporting cycle. The market has been flip flopping all July…9 up days and 9 down days…July cycle so far has only delivered two consecutive positive days and we just had it. US Fed update early tomorrow morning…will set the trend…US Fed likely to deliver nothing much at all and markets will finish higher for July. Expecting a positive run for a week for a good finish for July and then expecting weakness in August ahead of local reporting cycle.  Aussie CPI data was weak and high AUDUSD means outlook is for inflation top remain weak…unlikely to back any RBA rate hike scare story in 2017….as we expected no rate hikes till 2018 at best!!!The best performing sectors were Energy, Mining and Staples while the worst performers were Gold, Retail and Utilities. On the sector/stock front….(1) OZL was the best of the copper stocks on the commodity cycle (2) SVW was the best flow through for the solid Caterpillar result (3) SIG bounced on the market update regarding Chemist warehouse (4) RFG bounced on JV to deliver middle east expansion (5) DMP pulled back on market worry into result season (6) IGO quarterly update was below expectations


Click here for the full report.


Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 30 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...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.


Sign In or Join Free to comment