We expect CL to trend upwards later today. Based on these past Australia Balance of Trade news events there is a 87.5% chance of this. We expect this to happen if the released value is > A$12.2B. A price movement of 21 pips is expected.
Historical events that allowed us to draw this conclusion
05 Oct 00:30 |
02 Sep 01:30 |
05 Aug 01:30 |
03 Jun 01:30 |
04 Mar 00:30 |
04 Feb 00:30 |
03 Dec 00:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
