Be very careful of upcoming volatility because of the AU NAB Business Confidence news event later today. Based on the last 12 NAB Business Confidence events in AU, we expect a $30 movement on GBPUSD within 4 hours following the event release at 07 May 01:30.
We expect this to happen if the released value is > 2. A price movement of 3 pips is expected.
Historical events that allowed us to draw this conclusion
12 Feb 00:30 |
29 Jan 00:30 |
09 Oct 00:30 |
14 Aug 01:30 |
* All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”)
