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We expect AUDUSD to trend upwards today.

Based on the last 12 NAB Business Confidence events in Australia, we expect AUDUSD to trend upwards later today. Based on these past events there is a 71.43% chance of this. We expect AUDUSD to trend upwards 2 hours following the event release at 12 Nov 00:30 if the released value is < 0. A price movement of 14 pips is expected. Historical events that allowed us to draw this conclusion

08 Oct 00:30
01 Apr 00:30
12 Mar 00:30
11 Dec 00:30
13 Nov 00:30

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

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A final push expected on USD/CAD as it starts approaching a price line of 1.3237.

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We expect RU to trend upwards today.

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