We expect USDCAD to trend upwards later today. Based on these past United Kingdom Balance of Trade news events there is a 80% chance of this. We expect this to happen if the released value is > £-3.8B. A price movement of 4 pips is expected.
Historical events that allowed us to draw this conclusion
|09 Aug 08:30|
|10 Jul 08:30|
|10 Jun 08:30|
|09 Nov 09:30|
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).