On Wednesday, 11-25-09 at 10:00 AM ET, the USD New Home Sales and New Home Sales MoM reports were released by the Census Bureau
I did a “preview” of these reports on Tuesday, 11-24-09 at 10:00 AM ET, click here for a review.
The following is a quote from the FOREX Factory website Calendar:
“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);”
Here is what happened:
USD – New Home Sales – Stats
Previous = 402K revised = 405K
Forecast = 408K
Actual = 430K
Good – higher then the “forecast” by 22K, higher then the “previous by 28K and higher then the revised “previous” by 25K.
USD – New Home Sales MoM – Stats
Previous = -3.6% revised = -2.4%
Forecast = 0.8% revised = 0.4%
Actual = 6.2%
Good – higher then “forecast” by 5.4%, higher then revised “forecast” by 5.8% and higher then “previous” by 9.8% and higher then the revised “previous” by 8.6%.
Both of these reports were good for the US economy and the USD.
I was looking for a 30K difference of the “actual” above or below the “forecast” as the point to enter my trade, it was only close, but both reports were in favor of the USD.
I set up to trade the GBP/USD and did, a winner.
Here are the charts.
a one minute EUR/JPY chart
The EURJPY currency pair moved up for 22 minutes about 23 PIPS.
a one minute EUR/USD chart
The EUR/USD currency pair ranged.
a one minute GBP/JPY chart
The GBP/JPY currency pair moved up in 13 minutes about 25 PIPS – then reversed down the next 15 minutes about 39 PIPS.
a one minute GBP/USD chart
The GBP/USD currency pair moved up/down the first minute – then moved up the next 4 minutes about 14 PIPS – wrong direction – it then moved down the next 32 minutes about 49 PIPS – right direction.
Had a winning trade here.
a one minute USD/CAD chart
The USD/CAD currency pair just continued moving up.
a one minute USD/JPY chart
The USD/JPY currency pair moved up for 30 minutes about 21 PIPS – right direction.
The next schedule release of these reports will be on Wednesday, 12-23-09 at 10:00 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
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