 cymryd yw'r gwrthu i'r tygmyl yw'r ysgol y bydd yw'r ysgol y bydd y 27 eich Llywodraeth, i mewn Patrick amser. Felly mae hyn yn ffresiau a strydydd o'r impacty ffordd o'r coronavirus yn ymgyrchol o'r coronavirus, mae hyn yn ddod o'r hynny'n cyfle o'r ffordd o'r economiaid. Yr ysgol yw ddod yn ymgyrchol o'r ffordd o'r ysgol yn ysgol yw'r ffordd o'r hynny'n ymgyrchol o'r sydd fyddiad yma yw yw'r un yma o'r U S ac ym Oed. That's so far they are flattening across all major regions but not yet flat. Condigency planning for reopening parts of the economy and phases is prudent to undertake but seems a little premature in terms of implementation at this stage. Absent more convincing evidence that the curve counts are getting under control. Some experiments across the world may fail. Quickly where others succeed and the impact upon ac yn gwneud ironedol, fel yna yn ei wneud yn niwn. Rydym yn ei ddim yn oed gan y Eisteddfod Llywodraeth, beth mae wneud y data sy'n sefydlu. Felly, mae'n gyrraedd Yngrifennu apryd Pallewyr. mae'n yn gwneud i'n cael eu drwyllennu yn ddffun pluginol a'r holl sy'n gryfbeth daeth. Yn y ddyngyn ni, mae'n gwan f 94 phryd, ac mae'n rhaid i gyd o rusio'r fan. Mae'n gweithio'r Cysmog Cymru'r index ddaeth yn ysgol yna, mien i gan y cyfnod a'w cydroedd sy'n dechrau'r dframes ac y gyfnod gyda'r cydroedd sydd yn cyffredinol a'r cydroedd i'r Cyfnod, rydyn ni wedi'i cas yng Nghymru yma, o'ch gydr itwch anodd ym Llywodraeth yn i chi i gael cerddol o'r cyfnod yma o ein bod yn cynnwys oherwydd yna. A'n nesaf, wrth gwrs y ddigon ymgynghwyl C1 i'r gyfnod, ond y darllen yng Nghyrgrif Manol, It is an advanced reading and will show a contraction in US GDP. We'll also get the FOMC policy decision. The FOMC have already provided a lot of support to the economy, and they're likely going to need time to assess the impact of that support. Following the FOMC decision, we'll get Fed chair Powell hosting a press conference. On Thursday we'll get March personal income and spending. Personal income and spending is likely to be squeezed as activity contracts in the labour market weakens. We ran out the week on Friday in the US with the April ISM manufacturing reading, which is likely to be impeded by the supply disruptions and demand shock, which is going to probably dampen manufacturing. From a technical perspective, the dollar index is expected to start the week on a bearish footing here. We attempted to break higher on Friday and we got a key reversal day. We know that the sentiment and the momentum studies are starting to roll over as well. So as we hold Fridays high, we can expect a break of Friday's lows to encourage further downside to target and retest the 99 level. However, if we do find support at the open this week for the dollar index and we take out Fridays high, then we'll be looking for a test of the 101.50 area, where I'll certainly be watching closely how we trade there and bearish reversal patterns and I'll be looking to set short positions, ultimately targeting and move down to test the 96.40 to 96.20 area. Whilst we're talking about the dollar index, let's check in with gold. Gold continue to find support at the symmetry swing, swing objective at the 1670 area and we're now up looking for a retest of prior highs. Caution here as we could double top, we do have some divergence developing and if we do, I'd look for another pullback to test the 1640 area. However, once back here I'll be watching for bullish reversal patterns, set long positions, ultimately targeting a test of the 1760 to 1769 area. However, if we take out the double top and trade through there, then I'll be looking for an equality objective up at the 1840 level before a more meaningful correction. In the Eurozone this week, data-wise, it's going to be Wednesday when we receive the M3 money supply, which has turned up as easing comes online. We also get April economic confidence. PMIs have highlighted the dark shadow of those conditions, so I wouldn't expect anything too promising in that reading. We'll also receive German April CPI inflation poised for an abrupt slowdown in Germany. On Thursday we'll get the unemployment rate, labour market to really significantly weaker in the coming months. We'll also get Q1 GDP for the Eurozone as activity contracts sharply. We'll also have the ECB policy decision deposit rate. The ECB will call on fiscal authorities to do a lot more. We heard Madam LaGarde speaking last week where she said that the European Union were in peril of doing too little, too late. From a technical perspective, some good news out over the weekend with respect to Italy who didn't get a downgrade from S&P. We'll likely see some further follow through to the upside in the Eurodollar early in the week. If we can take out Friday's highs at the 108.30, then I'll be looking for a move up to back towards this 109.50. See how we trade there, but if we can get through there, then we still have this upside objective at 112.25. If, however, we don't find support for the Euro early in the week and we roll over, if we take out Friday's lows at 107.30, then I'm looking for a test of the prior cycle lows down at 106.30, where once again, certainly be watching for any bullish reversal patterns to set long positions to play for a corrective move to the upside. In the UK, first port of call is going to be Tuesday where we get April nationwide house prices. Significant headwinds obviously developing for the housing market in the UK. Next data of note then is really going to be Friday's net mortgage lending where credit is poised for a major contraction across the board. However, from a technical perspective, we have Boris Johnson returning to number 10 on Monday and we'll likely see an uptick in the sterling. We've held the symmetry swing support at this 123 area and if we can get through the 124 resistance, then I'll be looking for a move up to test the 78.6% retracement of the entire crisis decline at this 128 handle. Just above there, we have the Euro early pivot at 129. Certainly watching how we train in this area as bearish reversal patterns will be an opportunity to set shorts. But certainly at the beginning of the week looking for a breakthrough on Friday's highs for long positions to trade up into that 127-128 target zone. In Japan, we get Tuesday, we get the BOJ policy rate decision. Monetary focus will be on asset purchase programmes and what additional stimulus the BOJ may add. Then on Tuesday we get March job applicant ratio. Recent falls point to rising slack in the labour market and then on Thursday we'll get industrial production out of Japan and in line with the broader contraction in economic activity we'll be expecting a depressed reading there. From a technical perspective, the dollar yen continues to trade in a contracting range whilst we hold this 109.50 as resistance, I'm looking for a move down through the prior lows at 106.80 to ultimately test into the quality objective at the 104.50. Only a move through 109.50 would delay these targets and suggest then the potential that we trade and make another test at 110 for taking another leg lower. In Australia, markets are closed for a public holiday on Monday and then on Wednesday we get Q1's CPI. Q4 was up on the drought, obviously, petrol and tobacco. We're all expected to show an increase. However, Q1 falls in petrol on holidays while housing is likely to be broadly flat. So core inflation is going to be subdued. Weak wages and soft housing are not going to be helping that print and the six-month annualised pace probably slows somewhere to 1.4%. On Thursday we get March private sector credit, probably on a firma footing in Q1 ahead of the Covid-led slowdown to follow. We also get Q1 import price index. Price is generally higher on the lower Aussie and fuel prices are down as well. We also get Q1 export price index, prices up on the lower Aussie, commodity prices flat in terms of US dollars. Then on Friday we get the April AIG PMI manufacturing spiked in February by 9.4 points on essentials. We're looking for that reading to reverse sharply. That's all in terms of date for Australia next week. With respect to the Australian dollar continues to find support at the 63 level and strong close on Friday. If we take out the Thursday's highs at 64, look for a retest of 64.50 on route to multiple quality objectives now at this 67 handle, also the 78.6% retracement of the entire decline. Finally, the Canadian dollar. In terms of the Canadian economic data slate next week, all the focus really is going to be on Friday's manufacturing PMI, which is set to fall sharply in line with global manufacturing prints. From a technical perspective, we got a bearish reversal confirmation on Thursday. We didn't really see any follow-through on Friday, so we can take out those Thursday lows, then look for a move down to test the 138 area, which is the 50% retracement of the march rise and also the initial equality objective versus this swing high here on the 21st of April. However, if we get through the 138 handle, then we still have the primary equality objective, which is cited down at the 135.96. That concludes the weekly market outlook for week commencing the 27th of April.