Based on the last 12 BoC Interest Rate Decision events in Canada, we expect NG to trend downwards later today. Based on these past events there is a 70% chance of this. We expect NG to trend downwards 48 hours following the event release at 10 Mar 15:00 if the released value is = 0.25%. A price movement of 9 pips is expected.
Historical events that allowed us to draw this conclusion
20 Jan 15:00 |
09 Sep 14:00 |
15 Jul 14:00 |
03 Jun 14:00 |
22 Jan 15:00 |
04 Dec 15:00 |
30 Oct 14:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
