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Here’s what we are looking for in tomorrow’s economic reports (February 7, 2020) — Good Luck Trading!
1. AU PMI Services (16:30 ET) No Trade — PMI Manufacturing fell sharply but retail sales is up
2. Chinese Trade Balance (00:00 ET) No Trade — Chinese data is incredibly market moving and trade is likely to be weaker but Chinese data is difficult to predict.
3. German Trade Balance (02:00 ET) Bearish EUR — Potential upside surprise given rise in German PMI Manufacturing
4. US Non-Farm Payrolls (08:30 ET) No Trade — Non-farm payrolls is very market moving but best traded reactively
5. CAD Employment Report (08:30 ET) No Trade — IVEY released after CAD labor data but likely to be weaker given Bank of Caanda outlook