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Home Sales and FOMC Interest Rate statement

  • #1
  • First Post: Edited 6:37am Oct 25, 2006 4:15am | Edited 6:37am
edited by merlin, reported as stolen info...
  • #2
  • Oct 25, 2006 5:12am Oct 25, 2006 5:12am
When trading the FOMC, what USD pairs do most people use? EUD$, GBP$, $CAD, $JPY, or others. NZD/USD should be interesting, both have interest rate statements a few hours apart.

Rusty
  • #3
  • Oct 25, 2006 5:54am Oct 25, 2006 5:54am
Im pretty surprised to see that the GBP is back up to 1.8770s before the announcement today, with everyone already expecting the hawkish comments and a rate unchanged and the market already moved i wonder if we will see much movement at all?Anyone have any comments?
Ghost Swoopen in for my pips while no one is lookin !!
  • #4
  • Oct 25, 2006 6:16am Oct 25, 2006 6:16am
well newstrader has given some good arguments for a hawkish fed statment in his thread http://www.forexfactory.com/forexfor...ead.php?t=9317.

looking at the price action, looks like the market believes the same thing. the dollar got beat down a bit today, but let see what she does for the next couple hours. the time leading up to the statment will give us a very good sense for what the market believes about this statement.
Relax and be happy.
  • #5
  • Oct 25, 2006 6:21am Oct 25, 2006 6:21am
so whats up with these home sales at 10am? has housing reached a bottom? if we get a negative number today, that will certainly blow a hole in this theory:
Relax and be happy.
  • #6
  • Oct 25, 2006 6:25am Oct 25, 2006 6:25am
Mortage, as already pointed by NewsTraderFX, is up and confirmed at TTN's. So that means, housing is roaring again...

Hmmm bullish existing home sales later?
  • #7
  • Oct 25, 2006 6:40am Oct 25, 2006 6:40am
i'll bet you $5 home sales come in negative BK

i'd bet a million, but im not that sure
Relax and be happy.
  • #8
  • Oct 25, 2006 6:58am Oct 25, 2006 6:58am
ok, well you never agreed, but PAY UP anyway!!!
Relax and be happy.
  • #9
  • Oct 25, 2006 7:05am Oct 25, 2006 7:05am
hey Merlin is it true that the FOMC was released early last time on Sept 20 2006 because there was a 40 pip drop in the GBP 2 minutes earlier than the 1:15 release time but it reversed when news was suppose to come out and went 70 pips in $- direction? I thought iw was just people gettin rid of there positions before the news but one of your links said something about TTN getting the news early like FOMC thanks
Ghost Swoopen in for my pips while no one is lookin !!
  • #10
  • Oct 25, 2006 7:10am Oct 25, 2006 7:10am
TTN reports news when it comes out. yes, they reported the rates 2 minutes early, but thats because the FOMC reported 2 minutes early. FOMC is like that, sometimes late sometimes early. damn bernanke!
Relax and be happy.
  • #11
  • Oct 25, 2006 7:18am Oct 25, 2006 7:18am
I have entered long position on GBP based on negative Housing data. Up 10 pips. will wait to gain 20 pips.
These too shall pass away.
  • #12
  • Oct 25, 2006 7:22am Oct 25, 2006 7:22am
Quoting merlin
ok, well you never agreed, but PAY UP anyway!!!
WOW!

The move was very very slow... but being rejected at 1.8780s
  • #13
  • Oct 25, 2006 7:25am Oct 25, 2006 7:25am
yes we have some short term resistance there, but we also have several support levels beneath price at the moment.. volitility is not that great at the moment.
  • #14
  • Oct 25, 2006 7:27am Oct 25, 2006 7:27am
US September existing home sales down 1.9 pct to 6.18 mln units, as reported on fxstreet.


Have been holding to my Long Position, and it sure is paying off.

Regards all.
  • #15
  • Oct 25, 2006 7:30am Oct 25, 2006 7:30am
There is some short term resistence at 8780. Out with 16 pips gain. Not bad.
These too shall pass away.
  • #16
  • Oct 25, 2006 7:31am Oct 25, 2006 7:31am
CHICAGO FED NATIONAL ACTIVITY INDEX FELL IN SEPTEMBER TO -0.51 (LOWEST READING IN A YEAR) FROM -0.06 IN AUGUST; AUGUST READING WAS REVISED DOWN FROM -0.18

These too shall pass away.
  • #17
  • Oct 25, 2006 7:42am Oct 25, 2006 7:42am
Hi all
Is the FOMC web page the fastest place to read the press release?
  • #18
  • Oct 25, 2006 8:22am Oct 25, 2006 8:22am
FOMC Interest Rate Statement is coming out this afternoon and I would like to see how the experts trade a high-impact event like this

Before
- Are you going to be watching the market and making live calls, or set up orders before the release?
- If orders, would you share?
- Do you trade the initial spike or the reversal after? Both?

After (post after your FOMC trades have been closed):
- On a scale of 1-10, how well did you trade the event?
- How many pips did you make/lose?
- What you could have done better?
  • #19
  • Oct 25, 2006 8:28am Oct 25, 2006 8:28am
Quoting RvrsTrader
FOMC Interest Rate Statement is coming out this afternoon and I would like to see how the experts trade a high-impact event like this

Before
- Are you going to be watching the market and making live calls, or set up orders before the release?
- If orders, would you share?
- Do you trade the initial spike or the reversal after? Both?

After (post after your FOMC trades have been closed):
- On a scale of 1-10, how well did you trade the event?
- How many pips did you make/lose?
- What you could have done better?
Very good idea RVS , it would be nice to hear from the seasoned traders to help us newbies
Ghost Swoopen in for my pips while no one is lookin !!
  • #20
  • Oct 25, 2006 8:33am Oct 25, 2006 8:33am
I'm not really sure what kind of statement the FOMC will make but I'm looking for dollar strength since most of the market seems positioned short dollars at the moment.
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