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According to Macquarie Bank, a depreciating $A improves the earnings outlook for the Australian market. A depreciating currency removes major EPS growth headwinds, potentially benefitting all sectors. The stocks with significant EPS upgrades that are still trading at a discount to the sector on a 1 year forward price-to-earnings ratio are: Computershare (CPU), News Corp (NWS), QBE Insurance (QBE), Ansell (ANN), Amcor (AMC), Sonic Healthcare (SHL), Orica (ORI) and Incitec Pivot (IPL).


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