Sunset Strip > Trading Day Wrap From Blue Ocean 20170613

Mathan Somasundaram

Deep Data Analytics

Local market bounced hard as global investors jumped on our banks on the currency bet going into US Fed meeting. The market is worried that US Fiscal delays and patchy economic data to drive a downgrade in US Fed outlook and bring down the USD. AUDUSD likely stay strong on relative basis while stronger Yen is negative for Japanese markets. We saw money coming out of Japan and running into Australia on the currency bet ahead of the Chinese industrial production data…steel stocks were in fashion as well. The interesting mix is that Gold is being priced for stronger USD while Banks are being priced for weaker USD…one of them is right and one of them is wrong!!! The best performing sectors were Banks, Property and Energy while the worst performers were Telecom, IT and Miners. The best performer on the stock front was MIN on broker upgrades while some of the gold stock buck the spot gold trend to go higher. This week is setting up for big macro days on Wednesday and Thursday. Wednesday is industrial production from China, Japan and EU while US inflation and retail sales will be watched. Thursday morning will be all about US Fed update and then local employment market update.

 

Click here for the full report.

 


4 stocks mentioned

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.

Comments

Sign In or Join Free to comment