US Existing Home Sales 09/24/09

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10:00am (NY Time) US Existing Home Sales Forecast 5.36M Previous 5.24M

Definition
“Measures the annualized number of existing residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation´s currency because large purchases tend to be made by consumers that are optimistic and confident in their financial position. The sale of a home also triggers commissions for real estate agents, and often home owners will purchase goods such as appliances and furniture shortly after purchasing a home. Traders watch this report closely as it´s the month´s first demand-side housing indicator to be released.”

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About Kelvin Ching

I'm a professional Forex trader and I have been trading for over 7 years. I was a series 3 broker and a registered CTA with the NFA, the main regulatory agency in the United States, and I have been involved at the highest levels in commodity trading. I also have a background in Information Technology, graphics design, and programming... I'm the co-founder of CurrencyNewsTrading.com, a site dedicated to fundamental analysis and news trading.

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