The Fundamental FOREX Blog

Tomorrow, Monday 11-02-09 at 10:00 AM ET the USD ISM Manufacturing PMI and Pending Home Sales MoM reports will be released along with three other reports.

USD ISM Prices Paid
USD Pending Home Sales YoY
USD Construction Spending MoM

USD ISM Manufacturing PMI and Pending Home Sales MoM  have the greatest impact on the currency markets – the ISM Manufacturing PMI being the better.

The USD ISM Manufacturing PMI is released by the Institute of Supply Management.

and the Pending Home Sales MoM  is released by the National Association of Realtors and is released monthly.

The last time this combination of reports was released was on Thursday, 10-01-09 at 10:00 AM ET.

I did a “follow up” post, click here for a review.

Here is the set up for this month:

USD ISM Manufacturing PMI stats:

Previous = 52.6

Forecast = 53.1

USD Pending Home Sales MoM stats:

Previous = 6.4%

Forecast = 0.3%

The Manufacturing PMI is forecast to be good for the US economy and the Pending home sales is forecast to be bad for the US economy…so

Again, it appears that the “forecast” for each report are in conflict – but the ISM Manufacturing PMI will have the most impact.

Last month there was a conflict between the reports and the charts were a mess.

I will probably set up to trade the currency pair GBP/JPY, if the Manufacturing PMI “actual“ comes out about 4 more or less than the “forecast”, and the Pending Home Sales MoM  “actual” is not too far off of the “forecast” I may enter a trade.

This could be a tricky trade at best – be careful.

I did post a “follow up” of these reports, click here to see what happened.

I am not sure when the next scheduled release of  this combination of reports will be.

But, stay tuned!