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EUR/USD settles around 1.4230/50 as a highly volatile week comes to an end. The pair swung erratically throughout the week as news and fundamental data hit the markets among which are worth noting, rumors about a downgrade to France, a collapse on the stock markets and a temporary short-selling ban on financial shares imposed by some European countries, zero rates in the US until mid-2013 and ECB intervention on the bond markets. On this backdrop, EUR/USD moved between a high of 1.4425 at the opening and a low of 1.4103 on Thursday, where the aftermath has left the Euro around 1.4240 on track for a third consecutive weekly loss versus the Greenback, this time for 1.28%. Regarding next week forecast, Ilian Yotov , FX strategist at AllThingsForex, said, "The EUR keeps fluctuating within its range, but could attempt to break above it on QE3 expectations, or below it if the EU debt crisis continues to rattle the single currency."

UK Employment data: Wednesday, 8:30. A sharp rise occurred in the number of people claiming unemployment benefits in the UK reaching 24,500 in June from 22,500 in the previous month and well above the 15,000 increase expected. This is the largest increase in two years although the unemployment rate remained unchanged at 7.7%. The strange inconsistency between Claimant Count Change and Unemployment claims could be partially explained by changes to the benefits to lone parents including them in the jobless claimant count measure. A slide to 20,200 is forecasted now. UK Analysis UK Employment Data, Learn How to Win Forex Market, How to Book Proffit GBP, How to recover from forex market?

Japanese GDP: Sunday, 23:50. Japan’s Prelim GDP dropped more than expected by 0.9% percent in the first quarter of 2011 following a decrease of 0.8% in the previous quarter. Economists predicted a smaller decline of 0.5%. The decline was led by a drastic reduction in corporate capital spending caused by March earthquake. A smaller decrease of 0.6% is predicted. Forex Weekly Outlook- August 15-19 Blogger Labels: Japanese GDP