We expect EMD to trend upwards later today. Based on these past Australia NAB Business Confidence news events there is a 80% chance of this. We expect this to happen if the released value is > 3. A price movement of 50 pips is expected.
Historical events that allowed us to draw this conclusion
08 Jul 01:30 |
10 Jun 01:30 |
13 May 01:30 |
12 Nov 00:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
