10:00am US New Home Sales 354K(E) 342K(P) Wednesday February 24, 2010 (10:00am NY Time) US
New Home Sales Forecast 354K Previous 342K
New Homes Sales calculates the yearly number of new residential
homes that were sold during the previous month. A higher number has
a positive effect on the nation's currency because the housing
market is a leading indicator for the overall economy.
Historically, if the number comes out 70K more or less than the
forecast number, a move of 40~50 pips in USD/JPY can be expected
with in the hour about 80% of the time.
If the numbers come out lower than the forecast, we would look to
SELL USD/JPY or USD/CHF, if the number come out higher than
forecast, we would look to BUY USD/JPY or USD/CHF. Choose the
currency pair with the best potential for movement to trade. 70K(S) 50M
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