On Thursday, 07-22-10 at 10:00 AM ET, a USD report was released, it was the USD Existing Home Sales report, released monthly by the National Association of Realtors.
This report was released alone with 3 others:
USD-HPI MoM
USD-CB Leading Index
EUR Consumer Confidence
I did a “preview” post on Wednesday, 07-21-10 for these 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———-revised = 5.18 M
Actual = 5.37 M
This “forecast” indicated that there would be a decrease of home sales over last months sales, but it did not come out that way – there was an increase.
Here is how I was set up for these reports, and the results:
USD-10-00AM-ET-07-22-10
Looking for a 200K difference
Actual > Forecast = Good for USD
USD Existing Home Sales
——actual——–forecast———-previous
______________5.15M________5.66M
_____5.37M____ 5.18M
Out at 5.35M or Higher – BUY USD/CAD
Out at 4.95M or Lower- SELL USD/CAD
Good – “actual” came out higher then the “forecast” by 220K
Good – “actual” came out higher then the revised “forecast” by 190K
Bad – “actual” came out lower then the “previous” by 290K
I did execute a trade of the USD/CAD and it was a loser!
The currency pair USD/JPY would have been a better trade pair!
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 17 minutes about 83 PIPS
(EUR/USD)
a one minute EUR/USD chart
This EUR/USD currency pair ranged for 15 minutes
Spiked up next minute about 40 PIPS – wrong direction
(GBP/JPY)
a one minute GBP/JPY chart
This GBP/JPY currency pair moved up for 17 minutes about 69 PIPS
(GBP/USD)
a one minute GBP/USD chart
This GBP/USD currency pair moved down for 15 minutes about 18 PIPS – right direction
(USD/CAD)
a one minute USD/CAD chart
This USD/CAD currency pair moved down for 17 minutes about 22 PIPS – wrong direction A losing trade!
(USD/JPY )
a one minute USD/JPY chart
This USD/JPY currency pair moved up for 15 minutes about 44 PIPS – right direction
The next scheduled release of this report will be Tuesday, 08-24-10 at 10:00 AM ET. 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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