Be very careful of upcoming volatility because of Japan GDP Growth Annualized Prel news event later today. Based on the last 12 GDP Growth Annualized Prel events in Japan, we expect a $98.233 movement on USDCAD within 2 hours following the event release at 08 Aug 23:50. We expect this to happen if the released value is > 0.4%. A price movement of 13 pips is expected.
Historical events that allowed us to draw this conclusion
|09 Aug 23:50|
|14 Nov 23:50|
|13 Aug 23:50|
|17 May 23:50|
|13 Nov 23:50|
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).