Based on the last 12 Inflation Rate YoY events in United Kingdom, we expect OJ to trend downwards later today. Based on these past events there is a 80% chance of this. We expect OJ to trend downwards 48 hours following the event release at 18 Nov 07:00 if the released value is > 0.6%. A price movement of 1,102 pips is expected.
Historical events that allowed us to draw this conclusion
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
