Be very careful of upcoming volatility because of Australia NAB Business Confidence news event later today. Based on the last 12 NAB Business Confidence events in Australia, we expect a $0.103 movement on HG within 48 hours following the event release at 08 Oct 00:30. We expect this to happen if the released value is < 2. A price movement of 4 pips is expected. Historical events that allowed us to draw this conclusion
14 May 01:30 |
12 Mar 00:30 |
11 Dec 00:30 |
13 Nov 00:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
