18 April

1. Wednesday, April 18th, 2007 (4:30 am New York Time) UK

We have BOE minutes coming out of the UK. It's expected that in the last meeting, 7 out of 9 members voted for no hike. If the minutes come out with the vote at 5:4, that means that the hike this month is extremely likely, because it was already so close last month, and GBP/USD may possibly increase by 50 pips or more in the first 30 minutes of the report. If the vote was 9:0, it means that everyone was unanimous about not raising rates, and that decreases the chances for the rate hike this month, so GBP/USD may possibly decrease by 50 pips or more in the first 30 minutes of the report. I may even go long or short, even if the vote is less dramatic, but that will depend on where the price is at before the report.