Australia To Enter A Very Sad Decade – Update

Australia is on the tit of China. One trend that can not last forever is the credit expansion by Chinese banks. One can only fear for the Muppets investing in property in the wider Asian region.

Previous Post: Australia to enter a very sad period 

The most famous short seller of China in the World is Jim Chanos, in this video he makes some very good points. Chinese construction and credit expansion is at risk, and when it rolls over so will the region.

The Australian dollar was almost unchanged at the end of the week, closing at 1.0264. AUD/USD did break above the 1.03 line, but was unable to sustain that move. This week’s highlights include Building Approvals and PPI. Here is an outlook of the events and an updated technical analysis for AUD/USD.

AUD/USD showed little change as both the US and Australia posted some weak key numbers. Australian CPI missed the estimate, while the US continued to release disappointing numbers, notably GDP, which fell well short of expectations.
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