On Tuesday, 03-23-10 at 10:00 AM ET 2 USD reports were released, they were the USD Existing Home Sales and USD Existing Home Sales MoM reports, released monthly by the National Association of Realtors.
Probably the most important report of the 2 is the “Existing Home Sales”.
These reports will be released alone with 3 others:
USD-HPI MoM
USD-Richmond Manufacturing Index
EUR-Belguim NBB Business Climate
I did a “preview” post on Monday, 03-22-10 for these reports, click here for a review.
Here are the stats for this month:
USD Existing Home Sales stats:
Previous = 5.05 M
Forecast = 5.01 M
Actual = 5.02 M
This “forecast” indicated that there would be a decrease of home sales homes over last months sales.
Here is how I was set up for these reports, and the results:
USD-8-00AM-03-23-10
Looking for a 20K difference
Actual > Forecast = Good for USD
USD Existing Home Sales
——actual———-forecast———-previous
____5.02M_______5.01M________5.05M
Out at 5.21M or Higher – BUY USD/CAD
Out at 4.81M or Lower- SELL USD/CAD
Good – “actual” came out higher then “forecast” by 0.02 M
Bad – “actual” came out lower then “previous” by 0.03 M
Let’s take a look at the charts and see how things worked out:
(EUR/JPY)
a one minute EUR/JPY chart
This EUR/JPY currency pair moved up for 23 minutes about 39 PIPS
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair moved up for 52 minutes about 48 PIPS – wrong direction
(GBP/JPY)
a one minute GBP/JPY chart
This GBP/JPY currency pair minor move up/down for 6 minutes about 15 PIPS/ 23 PIPS
Moved up for 18 minutes about 45 PIPS
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair move down 1st 3 minutes about 11 PIPS – right direction
Moved up for 50 minutes about 57 PIPS – wrong direction
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair move up 1st 7 minutes about 16 PIPS - right direction
Moved up for 16 minutes about 33 PIPS – wrong direction
(USD/JPY )
a one minute USD/JPY chart
This USD/JPY currency pair spiked up/down 1st minute about 10 PIPS/5 PIPS
Moved down for 53 minutes about 22 PIPS – wrong direction
The next scheduled release of this report will be Thursday, 04-22-10 at 10:00 AM ET. At this point in time the Existing Home Sales reports are stand alone, a month is a long time, re-scheduling can occur any time.
I will probably be writing a “preview” post for this up-coming report.
So, stay tuned!
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