Based on the last 12 Balance of Trade events in Japan, we could expect HG to trend upwards later today. Based on these past events there is a 75% chance of this. We expect HG to trend upwards 12 hours following the event release at 18 May 23:50 if the released value is > ¥-1150B. A price movement of 10 pips could result.
Historical events that allowed us to draw this conclusion
19 Jan 23:50 |
19 May 23:50 |
18 Apr 23:50 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
