Here’s what we are looking for in tomorrow’s economic reports (Jan 31, 2019) — Good Luck Trading!
1. Chinese PMIs (20:00 NY Time) No Trade – Chinese data can be very market moving but hard to predict
2. German Unemployment & EZ Q4 GDP (03;00 & 05:00 NY Time) Bearish EUR – Potential for downside as employment growth eased to the slowest since Dec 2016. GDP growth should be weaker as well
3. US Personal Income & Spending (08:30 NY Time) Bullish USD – Potential for upside surprise given stronger wage growth and holiday spending
4. CAD Q4 GDP (08:30 NY Time) Bearish CAD – Potential for downside surprise given significantly weaker trade balance and retail sales
5. US Chicago PMI Index (09:45 NY Time) No Trade – Tough call as stronger manufacturing conditions in Philadelphia offset weaker activity in NY