Blame the economists. They are the ones who consider the AUD as a measure of risk appetite. This has resulted in ASX being considered as the planet's gambling casino.
When people feel optimistic gambling casinos do very well. But when the going gets tough gamblers tend to become hoarders and they tend to steer clear of the ASX.
Currently, the AUD is rocketing. That means everybody is scrambling back into the casino (ASX). But they could just as quickly stamped out of there if something happens to upset the applecart again.
As you know. I don't trust this market. I think someone is going to throw a spanner in the works very soon. (When they have shorted everything to the max.)
