Posted on October 8, 2008 at 4:33 in Uncategorized by Wayne McDonellNo Comments »

With respect to monthly economic reports, what the market focuses on most can shift over time. The U.S. pending home sales index for August is the only monthly report listed on tomorrow’s calendar which has some recent history of moving the major currency pairs. This report has been a decent leading indicator for existing home sales over the past year. In the context of recent events and market volatility, tomorrow’s report might need to reveal a surprise figure with major “shock value” to prompt a meaningful reaction from the market.