How much should Australian investors focus on macro events

How much should Australian investors focus on macro events? David Allingham from Eley Griffiths says that whilst they are fundamental, bottom upstock pickers the macro-economic back drop still plays a role in their investment process. Allingham says that since the GFC markets have largely been driven by macro events and that it would be foolish not to have an eye for what is happening globally. The key event most investors are waiting on is more certainty around the outlook for US interest rates. This is likely to have a big impact on cyclical stocks that have experienced a significant re-rating and PE expansion. Investors can expect commentary around the Fed's September meeting will ramp up in the coming days. In this short video David Allingham explains why this meeting is of particular interest for investors.