Based on past Canada Balance of Trade news events there is a 71.43% chance of USDCAD trending downwards. We expect this to happen because the released value is < C$-0.7B. A price movement of 116 pips is expected. Historical events that allowed us to draw this conclusion
04 Sep 12:30 |
09 May 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”).
