Daily Pivot-Fed Announcements-Commentary

By , 23 November, 2009, No Comment
ESZ9
For 11/20/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1094.83 1095.17 1094.42 1094.08 1093.67

Fed and Fed Agency Announcements

Existing Home Sales
Released on 11/23/2009 10:00:00 AM For October, 2009
Prior Consensus Consensus Range
Existing Home Sales – Level – SAAR 5.57 M 5.700 M 5.290 M to 5.900 M

Market Consensus Before Announcement
Existing home sales in September spiked 9.4 percent to a 5.57 million annual rate. Existing home sales have been on a healthy uptrend in recent months, showing gains in five of the last six months. Recent numbers have been boosted by the clock ticking down on tax credits for first time home buyers with closing required by November. Tax credits have been extended and expanded but we are likely to see an easing in sales as there are not as many in the eligibility pool for these tax credits as in earlier months. And rising unemployment is weighing on other potential buyers.
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