OJ could trend downwards later today. Based on these past Australia Balance of Trade news events there is a 75% chance of this. This could happen only if the released value is > A$9.3B. The price movement may be as big as 365 pips.
Historical events that allowed us to draw this conclusion
05 May 01:30 |
03 Mar 00:30 |
02 Dec 00:30 |
04 Nov 00:30 |
05 Oct 00:30 |
02 Sep 01:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
