Forex Trading Signal 11/08/07

Hi there, this is Felix.

Tomorrow we are going to have a very slow day with only one announcement that is worth watching and possibly trading.

1. Thursday, November 8th, 2007 (7:00 a.m. New York Time) UK
At 7:00 a.m. New York time we will have UK Interest Rate Statement coming out. It is expected that BOE will keep rates at the same level at 5.75%. If for some reasons they will cut the rate to 5.50%, I think GBP/USD may go down by as much as 120 pips or more in the first 30 minutes of the report. If they decide to keep the rate unchanged, then GBP/USD may or may not move so I do not recommend to trade it if the rate stays at the same level.

2. Thursday, November 8th, 2007 (7:45 a.m. New York Time) EURO ZONE
Then at 7:45 a.m. New York time we will have Interest Rate Announcement at Euro zone. It is expected that they will keep the rate at the same level at 4.00%. Since they don't like surprise people with unexpected rate decisions, I would just skip this report.

3. Thursday, November 8th, 2007 (8:30 a.m. New York Time) EURO ZONE
Then at 8:30 a.m. New York time we will have Trichet speech. I cannot give you any triggers for that since it is a speech, and unless you really know what you are doing, I don't recommend to trade it neither. Just be aware of some price actions that may occur right after 8:30 a.m.

4. Thursday, November 8th, 2007 (10:00 a.m. New York Time) USA
At 10:00 a.m. New York time we will have Bernanke speaking. I also recommend to skip that one unless you really know how to trade it and what to do. If you are in your own trades, just be aware of strange price actions.

That's all for tomorrow.