Based on the last 12 Westpac Consumer Confidence Index events in Australia, we expect UB to trend upwards. Based on these past events there is a 80% chance of this. We expect UB to trend upwards for 4 hours because the released value is > 77. A price movement of 132 pips is expected.
Historical events that allowed us to draw this conclusion
13 May 00:30 |
12 Nov 23:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
