We expect NIY to trend downwards later today. Based on these past Canada Balance of Trade news events there is a 80% chance of this. We expect this to happen if the released value is > C$-1.5B. A price movement of 165 pips is expected.
Historical events that allowed us to draw this conclusion
06 May 12:30 |
06 Mar 13:30 |
07 Jan 13:30 |
06 Jun 12:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
