Aug 01
Which would be negative for the USD. Last one was 50.2 about a month ago. If we see a higher value than 50, that could be the fuel the USD bulls need right now, to break below hard support lines faced after the NFP release.
Jul 24
Ok, There are a few things one should know about this particular economic indicator. First of all, it doesn’t come from one source, instead it is compiled from a bunch of reports and one can decide which one he/she would like to go with. The second important matter is that most of the people misinterpret it.. you shouldn’t look at the exact value: 4.93M is expected now, it means that on an annualized rate, so we expect 4.93M houses to be sold this year. This is why they say that more sales made, better for the currency, BUT! You have to look at the price of these also. Now if THAT is a rising trend, that means the economy is getting stronger and the crisis around house prices is fading. Not easy to interpret this news, but it’s pretty important, so heavy volatility is expected when it’s released. More on the results later.
BTW I’m still holding to one of my longs as I don’t see any real reasons to let go of it yet. I have scalped the market for +50pips this morning yet again, so my effective price is a lot better right now. Let’s see what the market has for us today.
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