 Welcome traders to another Tickman weekly market outlook for week commencing the 6th of December with me Patrick Manley Starting in the US. It's a pretty light day to kind of really across the board this week, but Tuesday we're going to get October trade balance looking for negative 66.8 billion As the deficit is likely to remain wide in the run up to Christmas on Wednesday We get October consumer credit looking for 25 billion print there demand for cars continues to buoy credit demand We then get October jobs job openings This should continue to point to extraordinary demand for workers Then on Thursday, we have initial jobless claims likely to remain historically low for the foreseeable future We also get October wholesale inventories the end of demand and supply chain restricting Lightly to see stocks rebuilding there and then wrapping it up on Friday We get November CPI looking for a zero point seven percent print there and your inflation to crest really in the coming months Is the view and we round out a week with December University of Michigan sentiment Looking for a 68 print there as inflation hit to discretionary incomes remains a big concern from a technical perspective in terms of the dollar index we continue to Consolidate in this triangle pattern and looking for tests down into 95 50 area to find demand ultimately looking for a pop to test 9750 before pulling back to retest the 94 50 area as significant support in the eurozone It's again light calendar really in terms of eurozone data, but we there is quite focused on German specific data We start the week with the December center to invest a confidence last time out 18.3 percent But again Omnicron and Delta are likely to weigh on confidence on Tuesday We get eurozone third quarter GDP looking for a 2.2 cent print there We also get December ZDW survey of expectations last time out 25.9 again Uncertainty likely to cloud the outlook there We also get German October industrial production looking for a positive 1% print and then we are heading into Friday rounding out a week with November CPI for Germany last time out 0.2% Energy is mostly responsible for the vast majority of the inflation surge that we've been seeing there from a technical perspective the euro dollar as we continue to find support as Towards 112 60. I'm looking for an extension up through the monthly pivot at 113 79 to ultimately get a retest of this 115 handle from below and we'll see if sellers Step back in for the next leg to the downside In terms of the yen very very quiet week just one print of notes Really a matz on Wednesday would get October current account balance looking for 29.15 as external Demand really lacks momentum there and we also get third quarter GDP looking for a negative 0.8 cent print Prospects for domestic demand also remain very poor from the tech technical perspective a little bit dollar yen to test back into This one 1450 area from there and watching the bearish reversal patterns to engage on the short side ultimately looking for a test of 70 train line support these prior highs here at the one 1150 handle In terms of the UK also light data week next week we only have Print for October trade balance coming in on Friday and again brexit and COVID-19 I like to continue to create trade instability in the UK from a technical perspective Sterling is in this Contracting sending wedge pattern. I'm looking for support to be maintained just below the 132 handle I'm then looking for bullish reversal patterns to engage on the long side looking for a test of these prior lows at the 134 10 and then we'll see if seller step back in to take it down to ultimate test of one 30 12 equality objective versus this from the structure here Running out the week last but not least is the Australian dollar in Australia On Tuesday, we get the RBA policy decision looking for them to maintain the zero points 1% On hold but governors decision statements will be of some interest We then get our RBA governor low speaking on Thursday the payments summit That concludes the data there for Australia next week So the focus is really going to be on that RBA decision but ultimately at this stage looking for The Aussie dollar to get a test now below the 70 handle from there We should see a relief rally and then likely retest the descending trend line Support to ultimately then pop back up to get a move to test the 71 60 again as resistance And that concludes the weekly market outlook for we commencing the 6th of December has always tried to plan the trade trade the plan The most importantly manage your risk until next time. Thanks very much