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Economic Data Calls for May 8, 2020
Here’s what we are looking for in tomorrow’s economic reports (May 8 2020) — Good Luck Trading!
1. RBA Statement on Monetary Policy (21:30 ET) Bearish AUD — We do not trade statements but economic projections are likely to be AUD negative
2. German Trade Balance (02:00 ET) Bearish EUR — Potential downside surprise given decline in PMI in March and sharp drop in April
3. CAD Employment Report (08:30AM ET) Bearish CAD — Record low employment component of IVEY signals further weakness in labor market
4. US Non-Farm Payroll (08:30 ET) No Trade — Non-farm payrolls expected to be very weak but best traded reactively