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We expect GBPUSD to trend downwards today with a 80% chance.

We expect GBPUSD to trend downwards later today. Based on these past Canada Balance of Trade news events there is a 80% chance of this. We expect this to happen if the released value is > C$-1B. A price movement of 45 pips is expected.

Historical events that allowed us to draw this conclusion

03 Jul 12:30
06 Jun 12:30
17 Apr 12:30
05 Oct 12:30

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

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We expect a 63 pip movement on NZDUSD within 48 hours following the event release.

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