We expect USDCAD to trend upwards later today. Based on these past Canada Balance of Trade news events there is a 85.71% chance of this. We expect this to happen if the released value is < C$-5.8B. A price movement of 195 pips is expected. Historical events that allowed us to draw this conclusion
05 Jun 12:30 |
03 Apr 12:30 |
05 Feb 13:30 |
05 Dec 13:30 |
05 Nov 13:30 |
08 Oct 12:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
