Thursday February 07th 2008 Forex Watch
Thursday Forex Watch.
1. Thursday, February 07th, 2008 (4:30 a.m. New York Time) UK. At 4:30 a.m. New York time we will have UK Industrial Production coming out. To stay safe, especially because of the Interest Rate statement coming out later on. If it comes out at 0.6% or higher, consider buying GBP/USD, looking for 35 pips. If it comes out -0.2 or lower, sell GBP/USD, looking for 35 pips as well.
2. Thursday, February 07h, 2008 (7:00 a.m. New York Time) UK. At 7:00 a.m. we will have UK Interest Rate decision coming out. It is widely expected they will cut the rates from 5.50% to 5.25%. If they cut to 5.00%, you can sell GBP/USD and expect about 50 pips price action.
3. Thursday, February 07h, 2008 (7:45 a.m. New York Time) EUROZONE. At 7:45 a.m. we will have Eurozone Interest Rate statement. It is widely expected they will leave the rates unchanged at 4.00%. If they cut by 25 bp, then sell EUR/USD, looking for 45 to 50 pips.
4. Thursday, February 07h, 2008 (8:30 a.m. New York Time) EUROZONE. At 8:30 a.m. we will have Trichet speech.
5. Thursday, February 07h, 2008 (10:00 a.m. New York Time) USA. At 10:00 a.m. we will have U.S. Pending Home Sales. Not Trading.
Good luck with your trades.
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