Here’s what we are looking for in tomorrow’s economic reports (November 5, 2019) — Good Luck Trading!
1. AU PMI Services (16:30 ET) Bearish AUD — Potential downside rise given significantly weaker PMI manufacturing index
2. RBA Rate Decision (22:30 ET) No Trade — We do not trade rate decisions but RBA will most likely to dovish
3. UK PMI Composite and Services (04:30 ET) Bearish GBP — Potential downside surprise given drop in GfK confidence. However UK PMI Manufacturing index increased
4. EZ Producer Prices (05:00 ET) Bullish EUR — Potential upside surprise given rise in consumer price index
5. CAD Trade Balance (08:30 ET) Bearish CAD — Likely to be weaker given significant drop in IVEY PMI
6. US Trade Balance & ISM Non-Manufacturing (08:30 & 10:00 ET) Bearish USD — Rise in ISM but slightly weaker than prior month
7. NZ Q3 Employment Report (16:45 ET) No Trade — RBNZ has been cautious but labor data forecast is hard given improvement in Manpower but weakness in jobs component of manufacturing index