We expect USDCAD to trend downwards later today. Based on these past Australia Westpac Consumer Confidence Index news events there is a 66.67% chance of this. We expect this to happen if the released value is < 85. A price movement of 64 pips is expected. Historical events that allowed us to draw this conclusion
15 Jun 00:30 |
11 May 00:30 |
08 Mar 23:30 |
08 Feb 23:30 |
18 Jan 23:30 |
13 Oct 00:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
