Daily Fundamental Analysis January 27, 2010
Fundamental Analysis: US New Home Sales
Traders anticipate the publication of the New Home Sales data tomorrow (January 27). It measures the annualized number of new residential buildings that were sold during the previous month. This report helps to analyze the strength of the US housing market, which helps to analysis the economy as a whole. The new home sales report is quite volatile and subject to huge revisions.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
The previous reading was at a rate of 355k which is anticipated to rise to a reading of 370k.
(via Forexpros)
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Originally posted here.
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