Based on the last 12 ISM Non-Manufacturing PMI events in United States, we expect HG to trend upwards later today. Based on these past events there is a 70% chance of this. We expect HG to trend upwards 4 hours following the event release at 04 Nov 15:00 if the released value is > 57.5. A price movement of 2 pips is expected.
Historical events that allowed us to draw this conclusion
05 Oct 14:00 |
06 Jul 14:00 |
03 Jun 14:00 |
05 May 14:00 |
04 Mar 15:00 |
05 Feb 15:00 |
07 Jan 15:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
