We expect a $287 movement on USDCAD within 12 hours following the release of Balance of Trade.

Based on the last 12 Balance of Trade events in Japan, we expect a $287 movement on USDCAD within 12 hours following the event release at 2024-12-17 23:50. We expect USDCAD to trend upwards 12 hours following the event release at 2024-12-17 23:50 if the released value is < ¥-688.9B Historical events that allowed us to draw this conclusion

19 Nov 23:50

16 Oct 23:50

21 May 23:50

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).