Here’s what we are looking for in tomorrow’s economic reports (June 5, 2019) — Good Luck Trading!
1. AU PMI Services (18:30 ET) Bearish AUD — Weaker PMI manufacturing signals weaker PMI services
2. AU GDP (21:30 ET) Bullish AUD — Potential downside surprise given improvement trade & retail sales in Q1
3. UK PMI Services (04:30 ET) Bearish GBP — Potential downside surprise given sharp drop in PMI Mfg but confidence was higher
4. EZ PPI & Retail Sales (05:00 ET) No Trade — Conflicting data makes EZ reports hard to read. Stronger GE CPI. Lower FR CPI. French spending increased. GE fell.
5. US ADPWealth Strength IndexADP is Extremely Flat and trending Down (08:15 ET) No Trade — ADPWealth Strength IndexADP is Extremely Flat and trending Down is very important to hard to predict
6. US ISM Non-Manufacturing (10:00 ET) Bearish USD — Weaker ISM Manufacturing report
7. US Beige Book (14:00 ET) No Trade — We do not trade reports but likely more cautious