The Fundamental FOREX Blog

Tomorrow, Friday 10-23-09 at 10:00 AM ET 2 USD reports are to be released, these are the USD Existing Home Sales for September and the MoM reports released monthly by the National Association of Realtors.

The FOMC Member Kohn is scheduled to speak at 11:30 AM ET

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

I did a “follow up” post on Monday, 09-28-09, click here for a review.

The last months reports were against the USD, I was set to trade the EUR/USD but traded the USD/JPY instead.

Nothing went as planned, check my “follow up” link above to see what happened.

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 this month:

USD Existing Home Sales  for September stats:

Previous = 5.10 M

Forecast = 5.39 M

USD Existing Home Sales  MoM stats:

Previous = -2.7%

Forecast = 5.0%

This “forecast” indicates that there will be an increase of home sales of about 29,000 homes over last months sales, and an increase in the Month over Month existing home sales.

Watch that both reports move in the same direction.

There is scheduled a speech at 11:30 AM ET by FOMC Member Kohn, which may have some affect on the USD later on.

I think that a good difference between the “actual” and the “forecast” of say 20K or more could present a brief “scalp” opportunity with the currency pair EUR/USD and perhaps some of the other currency pairs.

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

The next release of theses reports will be on Monday, 11-23-09 at 11:00 AM ET.

I will probably post a “preview” a day or two prior.

So, stay tuned!