 Welcome, traders, to a particular weekly market outlook for week commencing Tuesday 19th of April. Most of European markets were off yesterday for the Easter holidays, so we get going in earnest today. Starting in the US, we've got a pretty light day to calendar, holiday short and week ahead. Apart from PMIs, the focus will be upon the housing markets in the US. Today's housing starts from March, made different game based upon permits. Existing home sales from March also released today are expected to dip based on prior weakness in pending home sales that close and turn into completed resales within 30 to 90 days. Wednesday we get the base book of regional economic conditions where it gets much attention in the age of frequent Fed communication. Speaking of which, we will hear today from Chicago President Evans and then both Evans and San Francisco President Dali will speak on Wednesday. From a technical perspective, the dollar index has continued to glide higher. We're now looking initially for a test of the monthly projected range resistance 101-16. As pullbacks remain supported by the pivot here 124, we look for an extension up into the projected ascending trend channel resistance and we keep projected range resistance 101-17 to 102. From now we will watch a various reversal patterns accompanied by momentum divergence here to engage on the short side looking for at least a three-way corrective move back into the trend channel support down to the 99.50s. In the Eurozone, Fed Chair Powell and ECB President Lagarde appear jointly on an IMF panel on the global economy on Thursday. This follows the ECB meeting where it was indicated that growing consensus expect to deliver a 25 basis point rate hike in Q3. Several members pushing for an earlier end to the asset purchase program and the current plan to do so by Q3. Focus this week really is going to be on the PMI days though. Last time out fell to the lowest levels in 14 months in the Eurozone as due to political tensions weighed on demand of business companies. April manufacturing and services PMIs. We're going to be closely watched this week for hints on inflationary pressures, supply bottlenecks and indications whether demand is holding up. Last month, as I say, saw a meaningful drop but the services index rose very modestly compared to February. Given the Eurozone's closer economic links to Russia and Ukraine, it seems likely to be more impacted by the crisis. Consequently, we're looking for falls in both the indices this month consistent with signs of moderating economic growth from a technical perspective. The Eurodollar took out the price cycle lows at low 108. We now look as we hold below the pivot here at 108.30 for a test down into the confluence here of monthly and weekly projected rain support, 106.50s. From there, we'll be watching the bullish reversal patterns as long as we maintain bullish momentum divergence to play for at least a three-way corrective move back up to test weekly projected rain resistance at 109.40s. Japan. In terms of data, it really is Thursday. It's going to see Japanese CPI for March. It's likely to cross the 1% year of the year for the first time since October 2018 but remains far from the BOJ's target, talking to the Japanese Ministry of Finance on the wires overnight trying to dual bone down this yen weakness that we're seeing. From a technical perspective, you can see we have now we're now trading in this very steep sudden trend channel. I'm looking for a test of offers and stocks just about 1.30 from there as long as we can maintain some momentum divergence here. I look for a three-way corrective move back into test weekly projected rain support at 125.20s area. In the UK, potentially of most interest are going to be the preliminary April readings for manufacturing services PMIs. Last month saw a big jump in the services measure as the post on the Chrome rebound and consumer facing services continued but the manufacturing index fell to its lowest levels since February. This month's data will be watched for evidence on how much the Ukrainian crisis is actually impacting the UK, notably whether there are signs of further inflationary pressures and supply side constraints arising from the conflict, as well as any indication that consumer demand is being affected by the recent sharp rise in inflation. Look for both measures to be down in April but to remain at relatively upbeat levels. March retail sales will provide a further steer on whether consumer spending is slowing. Look for a decline which would be the third drop in the last four months. Some of that may just represent consumer switching services not included in retail sales as Covid restrictions do come to an end. However, it may also be an early warning signal. The April GFK consumer confidence reading is also four parts to slip and look for a fifth successive decline to take it to its lowest levels since November 2020. From a technical perspective, for sterling grounds lower, continuing to rotate around this 130 handle, I'm looking for a quick breach of the 130 to test down into projected weekly range support, 12890s. We also have the 78.6% extension from our swing high here at 13750, coming in 12890. So I'm watching for bullish reversal patterns there and we'll see if we get a tradable corrective lower. Last but not least, down under in Australia, a very light day to cover this week. Really the main event happened overnight, which was the RBA minutes confirmed their hawkish pivot by saying the next rate hike has been brought forward. The reactions to the minutes were relatively muted and from a technical perspective, we are now sitting in the area that we were looking for this test of the broken trend line resistance to now act as support. We've also got this ascending trend channel support coming in here, 73.30s. So I'm looking for bullish reversal patterns in here, certainly a close back through the pivot here at the 74 handle would encourage the view of long positions, initially looking for a move back into test 75.30s as potential resistance. If we get through there, we look for a retest of prior cycle highs 76.60s on route to an ideal monthly objective range resistance 77.10. At this stage, only a closing breach of the 73.20s would be a bearish development having moved back down to test support to the 71.60s. And that concludes the weekly market outlook for week commencing the 19th of April. As always traders, plan the trade. Trade the planet most importantly and it's all good. Until next time, thanks very much.