The British Monetary Policy Committee expanded the Asset Purchase Facility by an additional 50 billion pounds to £325, as was expected. The pound rose on news of the QE release, breaking through the 1.59 level, before retracting at the end of the trading week.

World Economic Forum (WEF) Annual Meetings – Day 2, this time is held in Davos for Bankers, Political, trade & finance Ministers and Commercial leaders from around 90 countries. Can influent market volatility.

In Canada, Leading Index More in Canada, Monthly Index that is based on 10 monetary indicators; is about to decreases from 0.8% on December down to 0.6% now.

Increased speculation about a Greek default and concerns about the eurozone did not affect the aussie, as traders were busy snapping up the Australian currency this week.

In the US, Empire State Manufacturing Index, monthly survey to value the general business conditions, rise is predicted from 9.5 points on December up to 10.7 now.

British QE expansion is likely in February, and more and more QE means more money printing, and this eventually takes its toll in devaluing the currency.

Here’s an update on technicals, fundamentals and what’s going on in the markets.

In the US, Unemployment Claim, weekly report to measure who filed for the first time for unemployment cover, is due to rise by 10K from 366K up to 376K

In the US, National Association of Home Builders (NAHB) Housing Market Index is expected to rise by 1 point up to 21 points on this monthly survey.

Australia’s GDP rose 1 percent in the third quarter, which was higher than the markets had anticipated. The areas of strongest growth were consumer spending and investment in the mining sector. With the cheery economic news, a third consecutive interest rate cut in February by the central bank appears less likely. The US rallied against the Aussie last week, as the greenback continues to benefit from the crippling eurozone debt crisis.