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Based on the last 12 Balance of Trade events in United Kingdom, we expect a 65 pip movement on USDCAD for the next 4 hours. We expect USDCAD to trend downwards for 4 hours because the released value is > £-3.2B
Historical events that allowed us to draw this conclusion
12 May 16:00 |
12 Mar 18:00 |
12 Nov 18:00 |
09 Oct 17:00 |
12 Aug 16:00 |
12 Jun 16:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).