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We expect HG to trend upwards today.

Based on the last 12 Balance of Trade events in Japan, we could expect HG to trend upwards later today. Based on these past events there is a 75% chance of this. We expect HG to trend upwards 12 hours following the event release at 18 May 23:50 if the released value is > ¥-1150B. A price movement of 10 pips could result.

Historical events that allowed us to draw this conclusion

19 Jan 23:50
19 May 23:50
18 Apr 23:50

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

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USDCAD may be ready to trend upwards today with a 75% chance.

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