We expect USDCAD to trend downwards for the next 2 hours. Based on these past Australia NAB Business Confidence news events there is a 80% chance of this. We expect this to happen because the released value is > -2. A price movement of 18 pips is expected.
Historical events that allowed us to draw this conclusion
12 Sep 01:30 |
08 Aug 01:30 |
11 Jul 01:30 |
11 Apr 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
