USDCAD may trend upwards for the next 2 hours. Based on these past Australia Balance of Trade news events there is a 71.43% chance of this. Our expectation is based on that fact that the released value is > A$8.5B. A price movement of 22 pips could be expected.

Historical events that allowed us to draw this conclusion

03 Mar 11:30	04 Nov 11:30
05 Oct 11:30	02 Sep 11:30
03 Jun 11:30

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