Based on past Australia Balance of Trade news events there is a 71.43% chance of USDCAD trending upwards. We expect this to happen because the released value is > A$8.5B. A price movement of 90 pips may be on the cards.
Historical events that allowed us to draw this conclusion
03 Mar 00:30 |
02 Dec 00:30 |
04 Nov 00:30 |
05 Oct 00:30 |
05 Aug 01:30 |
03 Jun 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
