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US Pending Home Sales

Discussion in 'Economic Indicator Descriptions' started by Felix Homogratus, Nov 2, 2009.

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  1. Felix Homogratus

    Felix Homogratus Commander in Chief

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    US Pending Home Sales comes out at 10:00 am New York Time every four weeks after previous report.

    It measures number of home purchasing contracts that are signed that month. It normally takes several months for a home purchase to complete after the contract is signed, and often times the deal falls through. Thus this indicator is leading by several months before the other housing indicators that actually calculate a number of closed homes.

    It is usually released as a percentage versus previous month. If the number is negative, it means there were less contracts for home purchases done in this month versus previous month. If the number is positive, it means there were more contracts this month over previous month.

    A better than expected number is usually good for US dollar, so GBP/USD tends to go down. A worse than expected number is usually bad for US dollar, so GBP/USD tends to go up. To read more about this report, please visit Real Estate Education, Information, Marketing Resources & Much More, which is the organization that gathers and analyzes the data and releases the number.

    If you want me to email you 1 day before this report is released, and explain to you in details on how to trade it, then please sign up for my free trading signals by going to this link:
    Forex Daily Trading Signals - Forex Peace Army Forum

    In the signal, I tell you exactly how many pips the currency will most likely move, depending on the difference between expected and actual numbers.
     
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