US New Home Sales 06/24/09

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Time: 10:00am NY Times
Actual: 342K Forecast: 360K Previous: 344K

Definition:

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Annualized number of new single-family homes that were sold during the previous month; While this is monthly data, it’s reported in an annualized format (monthly figure x12). Tends to have more impact when it’s released ahead of Existing Home Sales because the reports are tightly correlated.
It’s a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect. For example, furniture and appliances are purchased for the home, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

Update: This trade was based on the market cycle with positive 60 pips of profits.

About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

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