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Here’s what we are looking for in tomorrow’s economic reports (May 23, 2017) — Good Luck Trading!
1. GE GDP Revisions (2:00 NY Time) No Trade – Revisions are difficult to predict but changes can be market moving
2. IFO Business Report, EZ and GE PMI’s (3:30 and 4:00 NY Time) Bullish EUR – Potential for upside surprise given ZEW stronger but IP and factory orders down
3. US Manufacturing, Services and Composite PMI (9:45 NY Time) No Trade – Markit PMIs hard to predict
4. New Home Sales (10:00 NY Time) Bearish USD – Potential for downside surprise given Pullback expected after stronger month – starts/permits also down