Be very careful of upcoming volatility because of Australia Balance of Trade news event later today. Based on the last 12 Balance of Trade events in Australia, we expect a $19,815.84 movement on LB within 48 hours following the event release at 07 Nov 00:30. We expect this to happen if the released value is > A$5B. A price movement of 5,004 pips is expected.
Historical events that allowed us to draw this conclusion
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
