We expect a 53 pip movement on USDCHF within 12 hours following the event release.

Based on the last 12 Balance of Trade events in Australia, we expect a 53 pip movement on USDCHF within 12 hours following the event release at 11 Jan 00:30 GMT. We expect USDCHF to trend upwards 12 hours following the event release at 11 Jan 00:30 GMT if the released value is < A$10.6B Historical events that allowed us to draw this conclusion

04 May 01:30

01 Apr 00:30

07 Jan 00:30

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