We expect USDCAD to trend downwards later today. Based on these past Germany Balance of Trade news events there is a 71.43% chance of this. We expect this to happen if the released value is > €16.6B. A price movement of 10 pips is expected.
Historical events that allowed us to draw this conclusion
08 Jul 06:00 |
07 Jun 06:00 |
10 May 06:00 |
08 Apr 06:00 |
11 Mar 07:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
