We expect NKD to trend downwards for the next 12 hours. Based on these past Australia Balance of Trade news events there is a 80% chance of this. We expect this to happen because the released value is < A$5B. A price movement of 64 pips is expected. Historical events that allowed us to draw this conclusion
05 Jun 01:30 |
03 Apr 00:30 |
06 Feb 00:30 |
07 Nov 00:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
