Economic Data Calls For August 3, 2017

Here’s what we are looking for in tomorrow’s economic reports (Aug. 3, 2017).

1. AiG PMI Services and Trade Balance (19:30 and 21:30 NY Time) -- Bullish AUD -- Potential for upside surprise given increase in PMI Manufacturing

2. GE and EZ PMI Services and Composite Revisions (3:55 and 4:00 NY Time) -- No Trade -- Revisions to PMI are difficult to predict but if changes are made, will be market moving

3. UK Services and Composite PMI (4:30 NY Time) -- No Trade -- Increase in PMI Manufacturing offset by lower GfK Confidence

4. EZ Retail Sales (5:00 NY Time) -- Bullish EUR -- Potential for upside surprise given increase in GE retail

5. BoE Rate Decision (7:00 NY Time) -- No Trade -- BoE likely to be -GBP but rate decisions are best traded reactively

6. ISM Non-Manufacturing, Factory and Durable Goods Orders (10:00 NY Time) -- Bearish USD -- Potential for downside surprise given drop in ISM Manufacturing