I don't use them as a basis for picking stocks but it's always worth reading what they've got to say for some background info on the overall situation.
Likewise also worth paying attention to what the US Federal Reserve is doing, especially when interest rates are being raised on a regular basis, due to the effects that tends to have on the economy and markets. Whilst the US is a foreign country, it's a big one and what happens there does tend to impact the Australian share market also.