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There is a 70% chance of ZO trending downwards

Based on past Canada BoC Interest Rate Decision news events there is a 70% chance of ZO trending downwards. We expect this to happen if the released value is = 0.25%. A price movement of 512 pips is expected.

Historical events that allowed us to draw this conclusion

04 Dec 15:00
30 Oct 14:00
29 May 14:00
24 Apr 14:00
06 Mar 15:00
05 Dec 15:00

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).

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