Based on the last 12 Balance of Trade events in Japan, we expect a $140.978 movement on USDCAD within 2 hours following the event release at 16 Mar 10:50. We expect USDCAD to trend downwards 2 hours following the event release at 16 Mar 10:50 if the released value is > ¥-112.6B

Historical events that allowed us to draw this conclusion

20 Jan 10:50	18 Aug 09:50
20 May 09:50	19 Apr 09:50

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