1. Thursday, June 5th, 2008 (3:00 a.m. New York Time) UK
At 3:00 a.m. we might have Halifax House Price Index m/m out of UK today. If for some reasons they will release it today, then you can try to take a trade. If it comes out at -2.0, I would sell GBP/USD and look for 20 to 30 pips of a price action. If it comes out at 0 or higher, I would buy GBP/USD and expect 20 to 30 pips move as well.

2. Thursday, June 5th, 2008 (7:00 a.m. New York Time) UK
At 7:00 a.m. we will have UK Interest Rate statement. It is expected they will hold the rates at 5.00%. If they hike the rates to 5.25%, I would go long on GBP/USD and expect 70 pips price action. If they cut the rates, I would sell GBP/USD and expect 70 pips move as well.

3. Thursday, June 5th, 2008 (7:45 a.m. New York Time) EURO ZONE
At 7:45 a.m. we will have Interest Rate statement out of Euro Zone. It is expected they will keep the rates unchanged at 4.00%. If they hike, I would go long on EUR/USD and expect 50 to 70 pips price action. If they cut the rates, I would sell EUR/USD and expect 50 to 70 pips move as well.

4. Thursday, June 5th, 2008 (8:30 a.m. New York Time) CANADA
At 8:30 a.m. we will have Canadian Building Permits m/m coming out. Last month we got a solid trigger and we did not see any significant move at all so watch out. If it comes out at 2.5% or higher, I would sell USD/CAD and expect 30 pips move. If it comes out at -1.5% or more negative, I would buy USD/CAD and expect 30 pips move as well. Again, be careful.

5. Thursday, June 5th, 2008 (8:35 a.m. New York Time) EURO ZONE
At 8:35 a.m.Trichet will be speaking.

6. Thursday, June 5th, 2008 (10:00 a.m. New York Time) CANADA
At 10:00 a.m. we will have Canadian Ivey PMI. With a nice trigger it usually moves by about 40 pips although we have seen 90 pips moves as well. If it comes out at 62 or higher, I would sell USD/CAD, looking for 40 pips price action. If it comes out at 56 or lower, I would buy USD/CAD and expect 40 pips move as well.

That’s all for now.

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