Tomorrow, Thursday 09-24-09 at 10:00 AM ET 2 USD reports are to be released, these are the Existing Home Sales for August and the MoM reports released monthly by the National Association of Realtors.
Probably the most important report of the 2 is the “Existing Home Sales”.
The last report was on Thursday 08-21-09 at 10:00 AM ET – there was enough difference between the “actual” and the “forecast” to move the currency markets, 21K higher than the “forecast, and I did trade, several times – click here for a review.
I believe that Bernanke speaking also had a huge impact on the FOREX market
I did a “preview”, click here for a review.
The last reports were in favor of the USD, I traded the EUR/USD and things did not go as I had expected – but the USD/JPY did as predicted – so….
I will be setting up to trade the currency pair USD/JPY and will monitor 5 other currency pairs – GBP/USD, EUR/USD, USD/CAD, EUR/JPY, and GBP/JPY.
Here are the stats for this month.
USD Existing Home Sales for August stats:
Previous = 5.24 M
Forecast = 5.36 M
This “forecast” indicates that there will be an increase of home sales of about 12,000 homes over the July sales.
There is a speech scheduled at 10:30 AM ET by FOMC Member Evans, which may have some affect on the USD.
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 USD/JPY.
I will be writing a “follow up” post on the results of this report, probably this weekend.
So, stay tuned!
