The Fundamental FOREX Blog

Tomorrow, Wednesday, 10-28-09 at 10:00 AM ET, the USD New Home Sales and USD New Home Sales MoM monthly reports will be released by the Census Bureau

The last time these reports were released was on Friday, 09-25-09 at 10:00 AM ET.

I did a “follow up” of these reports on Friday, 10-02-09, click here for a review.

Here is what is coming up tomorrow:

USD – New Home Sales – Stats

Previous = 429K

Forecast = 443K

USD – New Home Sales MoM – Stats

Previous = 0.7%

Forecast = 2.6%

Last month the “actual” came out 16K lower then the “forecast” and 4K lower then the “previous“, which was not good for the USD. It appeared that all of the USD currency pairs I watch moved well in the right direction (EUR/USD, GBP/USD, USD/CAD and USD/JPY).

Click here for a review:

I did not fair well with my trade of the GBP/JPY last time, so….I think I will set up to trade the EUR/USD this time.

I will use a 30K difference of the “actual” above or below the “forecast” as the point to enter my trade.

There is a note in the FOREX Factory Calendar concerning these reports:

“Actual > Forecast = Good for currency (Note: While this is the ‘usual’ effect, under current market conditions the reverse tends to be true against some currencies, as bad data has been triggering the purchase of US bonds);”

Remember, what has happened in the past may not repeat itself under similar circumstances.

I will be writing a “follow up” post of these reports soon after.

The next scheduled report is on Wednesday 11-25-09 at 11:00 AM ET.

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

Stay tuned!