Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market started positive on yield chase before getting smacked down by substantial global investor selling pressure after very poor GDP data yesterday and weak retail data today. The global investor reaction was logical as currency is expected to fall substantially post weak retail data and very weak GDP growth rate. We have ECB talking tonight and Jobs data out of US. It may be flat to positive global sentiment overnight, but we have to wait and see if the global selling is done in our markets. Tomorrow is Friday and investors are likely to play it safe and not take too much exposure into the weekend. If you are invested, it is a good opportunity to move from bad stocks to quality stocks. If you are looking to invest, wait and see if the global selling pressure is finished and then buy at the back end of tomorrow. China is closed for WWII events for today and tomorrow….atleast we don’t have to worry about Shangbang tonight. (VIEW LINK)