Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market jumped out on the US positive lead and then just fell apart to finish a slight positive day with “Fed Scare”. The risk catalyst for the market has moved from bottom-up stocks update to top-down macro updates. We have RBA speech tomorrow followed by Fed speech, ADP employment change and Pending home sales from US. There is no macro risk bigger than US Fed putting up rates. The employment and pending data will potentially further strengthen the case for rate rise assuming the data keeps to recent positive trend. Interesting moves of the day…....…. (VIEW LINK)