The Fundamental FOREX Blog

The USD Pending Home Sales MoM and Pending Home sales Index YoY will be coming out tomorrow, Tuesday 02-02-10 at 10:00 AM ET.

These 2 news releases are stand alone this month.

The USD – Pending Home Sales MoM has the strongest influence on the market.

I did a “follow up” post the last month on Monday, 01-11-10, 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.

Here is what is happing tomorrow:

USD Pending Home Sales m/m stats:

Previous = -16.0%

Forecast = 0.4%

USD Pending Home Sales y/y stats:

Previous = 19.3%

Forecast = ?????

The “forecast” looks like the economists believe the housing economy is heating up.

Here is how I am set up for tomorrow:

USD-8-00AM-02-02-10
Looking for a 5.0% difference
Actual > Forecast = Good for USD
USD Pending Home Sales m/m
——actual———-forecast———-previous
________________0.4%________-16.0%
out at 5.4% or higher – SELL EUR/JPY
out at -4.6% or lower – BUY EUR/JPY
Change from USD/JPY to EUR/JPY

I did post a “follow up” soon after, click here to see what happened.

The next release for these reports is on Tuesday, 03-04-10 at 10:00 AM ET.

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

Remember, Past performances are NOT an indication of future results!

Stay tuned!