We expect EMD to trend downwards later today. Based on these past Australia Balance of Trade news events there is a 71.43% chance of this. We expect this to happen if the released value is > A$2.5B. A price movement of 346 pips is expected.
Historical events that allowed us to draw this conclusion
06 Mar 00:30 |
09 Jan 00:30 |
03 Oct 01:30 |
05 Sep 01:30 |
01 Aug 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
