Sunset Strip | Aussie market gave up most of Friday's gains despite positive global sentiment

Sunset Strip | Aussie market gave up most of Friday's gains despite positive global sentiment. Turnover was just below $4.2billion. Last week US Fed moved to deflate USD and support their economic recovery over other regions. The basic rules of currency war are (1) you do not talk about the war (2) you complain about everyone but it's different when it comes to you (4) once you start the war, you only stop when you are completely sure that you will win (5) currency war is a zero sum game and someone will get hurt for you to win. When it comes to currency wars, RBA is bringing a knife to a gun fight. Instead of wasting another cut like in Feb, RBA will be better served waiting for US Fed to actually move on rates and then cut. (VIEW LINK)