1. Tuesday, November 6th, 2007 (6:30 p.m. New York Time) AUSTRALIA
We will have Interest Rate statement out of Australia which is coming out at 6:30 p.m. New York time. It is expected that they will raise the rate from 6.50% to 6.75%. If that happens, then what is important are comments. If the comments are hawkish and they hint to a possibility of another rate hike, then AUD/USD may possibly go up by 50 pips or more in the first 30 minutes of the report. On the other hand, if they hike the rate and their comments are dovish like they will say there will be no more rate hikes, then we may see AUD/USD going down by 50 pips or more in the first hour of the report. Also, if they do not hike the rate (keep the rate unchanged at 6.50%), I think it is very possible that AUD/USD will go down by 50 pips or more in the first 30 minutes of the report.
Source: Felix
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