Here’s what we are looking for in tomorrow’s economic reports (Aug 3, 2018) — Good Luck Trading!
1. AU PMI Services and Retail Sales (18:30 and 21:30 NY Time) No Trade — Retail sales released same day as PMI services so difficult to predict
2. GE and EZ Services and Composite PMI (3:55 and 4:00 NY Time) No Trade — Revisions are hard to predict but changes will be market moving
3. UK Services and Composite PMI (4:30 NY Time) — Bearish GBP — Potential for downside surprise given drop in Manufacturing PMI
4. EZ Retail Sales (5:00 NY Time) — Bullish EUR — Potential for upside surprise given rise in GE Retail Sales
5. CA International Merchandise Trade (8:30 NY Time) — Bullish CAD — Potential for upside surprise given Stronger IVEY PMI
6. US Non-Farm Payroll Change and Trade Balance (8:30 NY Time) No Trade — Job growth should continue to be strong but non-farm payrolls are volatile and best traded reactively
7. ISM Non-Manufacturing (10:00 NY Time) — Bearish USD — Potential for downside surprise given Drop in ISM Manufacturing