The USD Pending Home Sales MoM and Pending Home sales Index MoM was released, Tuesday, 01-05-10 at 10:00 AM ET.
Also, the USD – Factory Orders was released.
The USD – Pending Home Sales MoM has the strongest influence on the market.
I did a “preview” post on Monday, 01-04-10, click here to see what happened.
These two reports are released by the National Association of Realtors on a monthly basis, and can have a strong affect on the FOREX market.
The Factory Orders are released by the Census Bureau.
The following is what was projected and what happened.
USD-8-00AM-01-05-10
Looking for a 5.0% difference
Actual > Forecast = Good for USD
CAD Housing Starts
——actual———-forecast———-previous
________________-2.3%________3.7%
_____-16.0%_____-2.3%________3.9%
out at 2.7% or higher – BUY USD/JPY
out at -7.3 or lower – SELL USD/JPY
Bad – “actual” came out lower then “forecast” by 13.7%
Bad – “actual” came out lower then “previous” by 19.7%
Bad – “actual” came out lower then revised “previous” by 19.9%
Here are the charts:
a one minute EUR/JPY chart
The EUR/JPY currency pair moved down 1st minute – then up
Moved up for the next 44 minutes about 55 PIPS
a one minute EUR/USD chart
This EUR/USD currency pair moved up for 28 minutes about 31 PIPS – right direction
a one minute GBP/JPY chart
This GBP/JPY currency pair moved down 1st minute
Moved up next 32 minutes about 49 PIPS
a one minute GBP/USD chart
This GBP/USD currency pair moved up 1st minute
Moved down next 8 minutes about 22 PIPS – wrong direction
Moved up next 19 minutes about 38 PIPS – right direction
a one minute USD/CAD chart
This USD/CAD currency pair moved up 1st 2 minutes about 8 PIPS – wrong direction
Moved down next 33 minutes about 22 PIPS – right direction
a one minute USD/JPY chart
This USD/JPY currency pair moved down 1st minute about 12 PIPS – right direction
Moved up next 44 minutes about 32 PIPS – wrong direction
Entered 2 trades – both were losers – had this one figured wrong!!!
The next reports are schedule for Tuesday 02-02-10 at 10:00 AM ET.
I will probably post a “preview” a day or two prior.
Stay tuned!
One Trackback
[...] did a “follow up” post the last month on Monday, 01-11-10, click here to see what [...]