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Economic Data Calls for May 7, 2020
Here’s what we are looking for in tomorrow’s economic reports (May 7 2020) — Good Luck Trading!
1. AU PMI Services (18:30 ET) Bearish AUD — Service sector activity expected to slow significantly in April
2. AU Trade Balance (21:30 ET) Bearish AUD — Drop in manufacturing PMI signals weakness in trade
3. Chinese Trade Balance (12:00AM ET) No Trade — Chinese trade data is very difficult but can be market moving
4. German Industrial Production (02:00 ET) Bearish EUR — Manufacturing activity expected to be very weak
5. Bank of England Rate Decision & Quarterly Inflation Report (07:00 ET) Bearish GBP — Likely to be -GBP but rate decisions are best traded reactively
6. US Jobless Claims (08:30 ET) No Trade — Jobless claims have taken increased importance but difficult to predict
7. CAD IVEY PMI (10:00 ET) Bearish CAD — Sharp slowdown expected in IVEY PMI