Aussie market started flat and finished flat with no real sentiment in global and local markets. AUDUSD back above 76 cents and in the 2015H1 trading band of 76-80 cents as we expected…but now struggling to go higher. US Fed speeches overnight were pushing potential rate rise in April while the US IMF delegate complained that RBA was jawboning currency down. RBA had a few speeches today and as usual they talked about how things are going well and potential for rate cut when needed. Property prices are starting to come off and that further provides RBA more room to cut. Time to be patient and pick the time to add more exposure…maintain long Yield and Gold, short Iron Ore and Oil!!!! TOX had a great day post acquisition while AAD had a great day post divestment. TPM delivered a solid result to boost the whole sector, but the growth story in the telco sector is no cheap anymore. Media sector looks good with prolonged election cycle and industry consolidation….APN, FXJ, PRT and SXL. (VIEW LINK)
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