The Fundamental FOREX Blog

Tomorrow, Thursday, 07-22-10 at 10:00 AM ET one important USD report is to be released, this is the USD Existing Home Sales report, released monthly by the National Association of Realtors.

This report will be released alone with 3 others:

USD-HPI MoM
USD-CB Leading Index
EUR Consumer Confidence

I did not record the reports for the months of  April and May

I did a “follow up” post on the June reports, click here for a review.

Here are the stats for this month:

USD Existing Home Sales stats:

Previous = 5.66 M

Forecast = 5.15 M

This “forecast” indicates that there will be an decrease of home sales of about 51,000 homes over last months sales.

Here is how I am set up for tomorrow:

USD-10-00AM_ET-07-22-10
Looking for a 20K 200K difference
Actual > Forecast = Good for USD
USD Existing Home Sales
——actual——–forecast———-previous
______________5.15M________5.66M
Out at 5.35M or Higher – BUY USD/CAD
Out at 4.95M or Lower- SELL USD/CAD

I think that a good difference between the “actual” and the “forecast” of say 20K or more could present a brief “scalp” opportunity with the currency pair EUR/USD or the USD/CAD and perhaps some of the other currency pairs.

I did post a “follow up” on the results of this report, click here to see what happened.

The next release of theses reports will be on Tuesday, 08-24-10 at 10:00 AM ET.

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

So, stay tuned!