Based on the last 12 NAB Business Confidence events in Australia, we expect EURUSD to trend upwards later today. Based on these past events there is a 88.89% chance of this. We expect EURUSD to trend upwards 12 hours following the event release at 08 Jun 11:30 if the released value is > 24. A price movement of 56 pips is expected.

Historical events that allowed us to draw this conclusion

10 May 11:30	09 Mar 11:30
09 Feb 11:30	08 Dec 11:30
10 Nov 11:30	05 Oct 11:30
14 Jul 11:30	09 Jun 11:30

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