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We expect UB to trend upwards with a 80% chance.

Based on the last 12 Westpac Consumer Confidence Index events in Australia, we expect UB to trend upwards. Based on these past events there is a 80% chance of this. We expect UB to trend upwards for 4 hours because the released value is > 77. A price movement of 132 pips is expected.

Historical events that allowed us to draw this conclusion

13 May 00:30
12 Nov 23:30

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

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