Sunset Strip | Aussie market remained negative with global sentiment despite better Iron Ore and China trade data

Sunset Strip | Aussie market remained negative with global sentiment despite better Iron Ore and China trade data. Our market had a substantial pullback since start of Sep (i.e. over 7.5%) with currency sliding (i.e. over 6.5%)...compared to US Indices like S&P 500 and DOWJON down less than 5% in the same period. We are currently trading below the long term fair value multiple while the yield support is better than any other market in the world. Given the yield, valuation and the currency pullback, we continue to feel confident that our market will recover despite the short term global volatility. We continue to expect AUDUSD to remain in the high 80's in the short term and then gradually come down to mid 80's. We continue to feel that RBA is currently trying to curb house prices so as to cut rates in mid-2015 to stimulate a stagnant domestic economy. Trading idea of the day: CarSales.com (CRZ). Monday's Macro Stock Pick: Flight Centre (FLT) (VIEW LINK)