Sunset Strip | Aussie Afternoon Institutional Market Wrap

Aussie market maintained the volatility as it recovered part of yesterday’s sell off on positive global sentiment despite falling commodity prices and institutional investors taking risk off before school holidays. Turnover was just below $6.3b. US market hovers around the technical support level with fear and greed index remaining in fear zone. US market now looking at every data point for clarity on interest rate move, but it is clear that corporate growth is going to struggle and GDP growth in Q1 will most likely slow down. Domestic institutional investors will be looking to reduce risk before going on school holidays with their family as well as before the next interest rate decision by RBA on Tuesday. The overall negative trend may remain through this week before retail investors take over the market next week post RBA decision. As expected the end of month/quarter delivered a positive day and historical trend suggests that we are likely to see profit taking tomorrow. (VIEW LINK)