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There is a 71.43% chance of USDCAD trending upwards

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”).

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