The Fundamental FOREX Blog

Tomorrow, Friday 08-21-09 at 10:00 AM ET 2 USD reports are to be released, these are the Existing Home Sales for July and the MoM reports by the National Association of Realtors

Probably the most important report of the 2 is the “Existing Home Sales for July”.

The last report was on Thursday 07-23-09 at 10:00 AM ET – there was not enough difference between the “actual” and the “forecast” to move the currency markets, but if you would like to check out the post I did on the results – click here.

I will be setting up to trade the currency pair EUR/USD and will monitor 5 other currency pairs – GBP/USD, USD/JPY, USD/CAD, EUR/JPY, and GBP/JPY.

Here are the stats for  USD Existing Home Sales  for July:

Previous = 4.89 M

Forecast = 5.03 M

This “forecast” indicates that there will be an increase of home sales of about 140,000 homes over the June sales.

Also, the FED Chairman Bernanke will be speaking, in the past what he says and how he says it can affect the currency market – if you are privy to hear the event live, be aware.

I think that a good difference between the “actual” and the “forecast” of say 15K or more could present a brief “scalp” opportunity with the currency pair EUR/USD.

I will be writing a follow up post on the results of this report, probably this weekend.

So, stay tuned!