We expect HG to trend upwards for the next 48 hours. Based on these past Australia Westpac Consumer Confidence Index news events there is a 66.67% chance of this. We expect this to happen because the released value is > 110. A price movement of 5 pips is expected.
Historical events that allowed us to draw this conclusion
09 Feb 23:30 |
09 Dec 01:30 |
13 Oct 23:30 |
13 May 00:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
