 Bucking traders to know that tick the weekly market outlook for week commencing the 12th of September Starting in the US Data until Tuesday when we get the August NA 5B small business optimism last time out 89.9 print looking for a 90.5 Consolidation really near the pandemic lows with the outlook still looking pretty gloomy for the small businesses in the US We also choose to get the August CPI I'm looking for a negative 0.1 percent with the potential of a negative 0.2 percent core inflation is obviously the focus 0.2 to 0.3 percent really necessary to quell further fears on that front heading into Wednesday We get August PPI Looking for a flat print there 0% producer inflation cooling as supply issues begin to ease then heading into Thursday See initial jobless claims likely to rain at low levels for the time being We get September Fed Empire State Index looking for a negative 15.5 September Philly Fed index as well looking for a 2 0.0 print there then August retail sales Looking for those to come in flat In line those retail surveys that have been highly volatile increasingly varied across the nation inflation in rates clearly weighing on the Assumption side of the calculation here. We also get August import price index of a negative 1.3 percent Import prices are declining from elevating levels. We also get August industrial production looking for a 0.2 percent print there businesses are working through these ongoing supply issues and We finish up on Thursday with July business inventories looking for a 0.6 percent print there Rebuilding of inventories continues at a pretty robust pace and then rounding out the week on Friday We get September University of Michigan sentiment last time 58.2 looking for 59.3 consumers still feeling the heat from inflation and rates so moving to the charts from a technical perspective the dollar index traded into our target zone at the one 10 30 and We found Supply coming into the market there. We've since seen a pullback to test initial sport one of 840s I'm looking for a move down there to make a test on the 107 50 monthly pivot as Pullbacks remain contained below 110. We look for a three-way corrected move into monthly projected very sport 105 80s at this stage only a close back through the one 1070 would open the move up into the 111 111.87 Moving to the Eurozone Day starts there as well on Tuesday with the September ZEW survey of expectations last time out negative 54.9 sunk to a series low similar to other sentiment surveys in the Eurozone on Wednesday We get July industrial production looking for a negative 0.7 percent from there point through Q2 Those supply issues continue to linger then on Thursday. We get the July trade balance and Value of energy related imports really remains elevated and it's going to be a challenge on that July trade That's last time out was negative 30.8 billion Then we round out the week on Friday with the August CBI year-over-year print of the 9.1 Cent final estimate to provide detail on the breadth and intensity of inflation in the Eurozone So from a technical perspective the euro Tested into our 9860 support area. We have seen a pullback now We're looking for resistance here the 101 30s if seller step back in here and defend the Monthly pivot and the sentiment trend line resistance We actually then look for that move down into our ultimate target of the 97 60s at this stage close through 101 50 would suggest a deeper corrective move looking to challenge the monthly projected range resistance 103 30s and that prior high there at 1.03 60s Heading to the UK And obviously passing the Queen There's going to be a lot of focus on state funeral, etc. This week but from a Fundamental perspective on Monday, we get July trade balance and so the deficit is to remain wide based on import strength On Tuesday, we get July IOL unemployment rate looking for 3.7 percent print Slack to become more visible into the year-end then on Wednesday or the CPI You're over a year from 10.4 percent energy inflation is really key risk there Then on Thursday the all-important be a policy decision When the market is weighing a 50 or 75 basis point height like clean this time around with many market watchers leaning on the side of that 75 basis point Increase which would take rates to 2.5 percent And they're running out the week on Friday in the UK August retail sales looking to continue in their negative bias so far this year highlighting the pressure on household spending given the rate situation in the UK and Obviously the customer in crisis, which is being born by a large percentage of the population from a technical perspective We tested into the one 14 49 That was our target for the breakdown and we did see some bias step in there Looking now for a three-way corrective move really to get us into test the monthly pivot here 118 40 this stage any loss of that one 14 would be a significant bearish development I think we've done to one 12 50 as an extent side objective Moving to Japan light data this week Really the only date of the notes comes on Wednesday when you get July machinery orders looking for a negative 0.8% print there July industrial production 1% flat incredible volatility in capital investment in Japan and production as funds find their footing post the supply chain issues that have really been hungry industrial production and machine orders That's like I said the only data of note next week for Japan from a technical perspective We traded up into our target zone 144 70s Rejection from that area now looking for a corrective move to develop here initially targeting 139 18 And then as poor back to rain contained by that one three two fifties We look from it down into the high volume of 135 19 and that sending trend line support at this stage only a close through 145 30s would Target and move up to test monthly projected range of lessons 147 50s Running out the week from a data perspective down under in Australia Tuesday September West Park consumer sentiment To be hit by a 450 basis point rate hike in as many months in Australia We also get any big business survey last time at 20 conditions up six points in July any signs of cooling in August will be paying close attention to that print and August overseas arrivals Arrivals at 60% of pre-covid levels in terms of mid-year travel in Australia And then that takes us into Thursday We get September inflation expectations 5.9% last time out will fall in petrol prices have an impact on those expectations We also get August employment looking for 37.5 K print there potentially as high as 110 K employment bounces out of illness hobbies and Flood induced collapse while a lift in participation studies the unemployment rate she can around 3.4% and that runs out the data down there in Australia from technical perspective The Aussie dollar came just shy of testing that being a quality objective that we're talking the 6644 So as pullbacks remain contained by the high-volume nodes 6905 monthly Pivot there 69 30s and the trend line resistance and monthly objective range Resistance just below the 70 and what's bearish results of happens here to ultimately get that test down into the 6640s And from there we'll be looking for a more meaningful Upside correction at this stage really we need to see a close back through 70 to suggest the downside is complete for now And they will be looking again at another test of 71 30s And that concludes the weekly market outlook for week convincing the 12th of September as always traders plan the trade Trade the plan the most importantly manage your risk until next week. Thanks very much