We expect USDCAD to trend downwards later today. Based on these past Australia NAB Business Confidence news events there is a 83.33% chance of this. We expect this to happen if the released value is < 3. A price movement of 156 pips is expected. Historical events that allowed us to draw this conclusion
14 May 01:30 |
01 Apr 00:30 |
12 Mar 00:30 |
11 Dec 00:30 |
11 Sep 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
