We expect CL to trend upwards later today. Based on these past Canada Balance of Trade news events there is a 85.71% chance of this. We expect this to happen if the released value is < C$-0.7B. A price movement of 247 pips is expected. Historical events that allowed us to draw this conclusion
05 Nov 13:30 |
04 Sep 12:30 |
09 May 12:30 |
27 Mar 12:30 |
08 Jan 13:30 |
06 Dec 13:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
