Local market bounced on positive global sentiment before running into profit taking ahead of the long weekend in the US. The global market sentiment improved with solid economic data from China, US and Canada while Japan data supports accommodative BOJ stance for the medium term. The non-farm payroll data will set the tone for US markets tonight while we should get more information about the Chinese 5 year leadership rejig party later this year. Canadian economy is hitting its straps after moving to manage their property market and more balanced/fair budget driven consumer spending recovery…may be something for Aussie government to take a look at when they are not fighting for their jobs. Commodities had another cracker day as US administration talked down USD and more about their fantasy tax plan with no costing. Base metals are flying as China rolls on...Copper, Aluminium, Nickel etc…don’t be short!!! AUDUSD back up to mid 79 cents…looks like we will see low/mid 80’s before any pullback to low/mid 70’s. Locally reporting season has finished and we will all be buried in “analysis by paralysis” over the next week to find out where things went wrong in a subdued market. The answer is simple…the risk of underperforming was always high in a market that ran into reporting season with very high expectations in an overall economy with relatively weak outlook. We still see short term risk in the US market in Sep…stay nimble!!! Global markets may reduce exposure before the US long weekend with rising geopolitical risks…like we saw in our local market.
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2017 - Now > Blue Ocean (AUS) > Market Portfolio Strategist 2012 - 2017> Baillieu Holst (AUS) > Head of Strategy, Quant and Data Analytics 2009 - 2012 > Bell Potter / Southern Cross (AUS) > Head of Quant and Data Analytics 2007 - 2009 > LIM...
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