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 75% chance of this. We expect EURUSD to trend upwards 12 hours following the event release at 2023-06-13 11:30 if the released value is < 0. A price movement of 40 pips is expected. Historical events that allowed us to draw this conclusion

08 May 11:30	14 Mar 11:30
13 Dec 11:30	11 Oct 11:30
12 Jul 11:30	14 Jun 11:30

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