AUD/USD

Tumbling down 300 points last week, the Aussie and green bucks closed beneath the 0.80 line, so far thelowest level since July of 2009. Highlighting this week are the Business Confidence of NAB, the CPI and thePPI.

An outlook on the major players of the market and a recent technical analysis for AUD/USD presented the currency markets in chaos as it was shattered by the shocker from SNB and the QE announcement of ECB. It led minor currencies like the Aussie to make sharp losses last week. Due to the very highly anticipation of ECB decision on QE, it is now past and Draghi certainly delivered: (1) a purchasing program for 60 billion euros everyper month to be ended September of 2016; and (2) a 20% risk sharing of 12% for such EIB. Since the program might be long-termed, Draghi is not concerned about risk sharing as there was a wide agreement made on the main points.

U.S. dollar tidal wave was not enough to dampen solid consumer spending and confidence numbers. But the key data from U.S. was a disappointment. The claims of unemployment was higher than forecast, while sales of Existing Home failed to hit expectations. A bounce in the Chinese GDP was only adequate to keep the Aussie up for the meantime.