We expect USDCAD to trend upwards for the next 48 hours. Based on these past Japan Balance of Trade news events there is a 80% chance of this. We expect this to happen because the released value is < ¥227.1B. A price movement of 90 pips is expected. Historical events that allowed us to draw this conclusion
18 Mar 23:50 |
19 Nov 23:50 |
16 Oct 23:50 |
21 May 23:50 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
