 What can trade us to another tick mill weekly market outlook for week commencing the 8th August with me, Patrick Lembry. Starting in the US it's all about inflation for the week ahead. Now that sub-fed members have pushed back on the idea of a fed pivot and with the very robust job states are coming out on Fridays, investors will want to see if inflation continues to show signs that inflation has potentially peaked. The US economy might be slowing down and that will lead to some demand destruction for goods. The US economy's high inflation report is expected to show a much slower pace of price pressures but it ends up being a hot report. Expectations for the September FOMC meeting are now poised at a 75 basis point after the job data and if that inflation print comes in hot then that's just going to add to the conviction there. The month over month reading is expected to show 0.2% increase down from the 1.3% pace in the prime month. The headline year over year reading is expected to ease from 9.1% to 8.8%. The other important data set for the week ahead is the preliminary University of Michigan consumer sentiment report which is expected to stabilise. Traders will also want to pay close attention to a few Fed appearances during the week from Evans, Kashkari and Daily leading up to the September policy decisions. Traders want to know how many Fed members are positioning themselves for a slower pace of tightening policy. Also, we have election season continuing in the US with primary elections in Connecticut, Minnesota, Vermont and Wisconsin. Moving to the charts from a technical perspective, Dollar Index held trend channel support that we identified last week just above that 105 level and we have tried to grind out here to the upside closing just below the pivot at the 106 40s on Friday. So from a technical perspective now, there is a chance that we do a double correction and ultimately test the equality objective at 104 20s but obviously we'd have to take out this trend and I support on a closing basis to see that move play out. The alternative scenario and the bullish scenario for me would be any close through 107 30, I want to engage on the long side but the retest price cycle highs just above 109 on route to that 110 20 area. From there I'd be watching the bearish reversal patterns, certainly we should have sufficient mental divergence then to play for a counter trend corrected move back into that 106 80s. At this stage, we need to close through this 104 20 to suggest deeper corrective action 103 20s and 102 30s as the next downside objective. Moving to the Eurozone, next week is looking a little quiet on the European data front with final inflation data, the only notable release. Of course it will attract plenty of attention considering the level of central bank activity at the moment but revisions do tend to be less impactful. The winter already in mind, the focus will remain on Russia, gas flows as an altering one continues to run at 20% capacity. So from a technical perspective in terms of the Euro dollar, whilst we hold the pivot here 100 96, we're still looking for an equality objective 104 15, certainly from there we're watching the bearish reversal patterns to engage on the short side, looking for this move down into the yearly S3 at 97 60s. At this stage, close below that pivot through that 100 90 would also trigger short positions for me and I'd be targeted again up and down to the 97 60s before I think we can see a much more meaningful corrective advance. Moving to the UK, obviously we still have debate about who's going to be the leader of the Conservative Party and possibly Prime Minister and that continues this week. But from a data perspective, the focus is going to move to Friday and the GDP data, it's the standout event next week, especially in light of the bleak BOE forecast from last Thursday. The country may not be in recession yet, but the central bank thinks it will be very soon and the slump will be low and painful. If the GDP data on Friday is unexpectedly negative, it will compound the misery facing the country over the next couple of years. So from a technical perspective, Stirling Dollar tested into the Equality Objective and we did find some supply, we've now taken out the trend line support, the internal trend line here. So what we watch for next is a test of this 1940s, 1950 area. We could potentially put it in an inverse head and shoulder scenario from there. So we're watching for bullish reversal patterns from that level to potentially engage on the long side. If we take that out on a closing basis, then we are looking ultimately for a grind down into that 115 target to the downside. At this stage, really take a close back through the 123 level to suggest the low is already potentially in and we have further corrective upside to trade. Moving to Japan and what do we have there this week? Well, I guess that the main driver for the Dolly Yen pair anyway this week is going to be the inflation print on Wednesday. Japan domestically has a heavy week in terms of data releases, but they're all second tier and I'm really unlikely to have an impact on the markets. So we anticipate that the Dolly Yen is really going to take its lead from the US yields and certainly want to pay close attention to that CPI print on Wednesday for the next phase in terms of the catalyst I see for the Dolly Yen from the fundamental perspective. So what we're looking at from a technical perspective is whilst we hold this one or three fifties to sorry, one thirty five fifties to one thirty six twenties watch for bearish reversal patterns here. And I want to engage on the short side looking for a three way corrective move then to target one twenty six eighties before once again looking to reengage on the long side in terms of the Dolly Yen. Moving to Australia and again, pretty light data calendar. The only data of note really is going to be consumer and business sentiment, which is released on Monday. They're the only releases of notes and the anticipation is for some improvement in consumer confidence. Last time was a negative three percent print looking for a market consensus of one point four percent and the consumer confidence index looking for that creep up from eighty three point eight to the eighty five level. Now the Australian dollar similar really set up or structure to that of sterling. We took out the internal trend line resistance. We tested the pivot close above it closed week on Friday. So again, we could put in an inverted head and shoulder scenario if we hold any test of the sixty eight fifties down to the sixty eight thirties, watch for bullish reversal patterns there to engage on the long sides, ultimately looking for a test of the high volume note seventy one eighties. The alternative scenarios that we get a break of resistance at seventy forties and again from there once engaged on the long side and looking for this seventy one eighties. However, if we get further weakness into the starter trade this week and take out that sixty eight thirties on a closing basis, then I want to be engaged on the short side because we still have this open downside objective, the big weekly equality objective down to sixty six forties. And we'll just wrap the session up by taking a quick look at Bitcoin. Bitcoin continues to consolidate in a similar fashion to the last phase that we saw between May and June. It's extending, but the technical structure here is overlapping and suggests that we are in a corrective phase and we still have that downside equality objective at twelve thousand one hundred and eighty five. So what we're watching for is any breach of the trend channel support back through the twenty K level to engage on the short side and looking for that twelve thousand one hundred and eighty five test to the downside. And that concludes the weekly market outlook for week commencing the eighth of August. As always, traders, plan the trade, trade the plan. And most importantly, manage all this until next week. Thanks very much.