Based on the last 12 NAB Business Confidence events in Australia, we expect USDCAD to trend downwards. Based on these past events there is a 66.67% chance of this. We expect USDCAD to trend downwards for 2 hours because the released value is < 18. A price movement of 17 pips is expected. Historical events that allowed us to draw this conclusion

11 Aug 11:30

14 Apr 11:30

All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).