We expect GBPUSD to trend downwards later today. Based on these past Canada Balance of Trade news events there is a 80% chance of this. We expect this to happen if the released value is > C$-1B. A price movement of 45 pips is expected.
Historical events that allowed us to draw this conclusion
03 Jul 12:30 |
06 Jun 12:30 |
17 Apr 12:30 |
05 Oct 12:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
