We expect USDCAD to trend downwards later today. Based on these past Australia Retail Sales MoM news events there is a 71.43% chance of this. We expect this to happen if the released value is < 0.5%. A price movement of 28 pips is expected. Historical events that allowed us to draw this conclusion
04 Oct 01:30 |
04 Jun 01:30 |
07 Mar 00:30 |
05 Feb 00:30 |
02 Nov 00:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
