Based on the last 12 Balance of Trade events in Japan, we expect a $280 movement on NZDUSD within 12 hours following the event release at 18 Aug 09:50. We expect NZDUSD to trend upwards 12 hours following the event release at 18 Aug 09:50 if the released value is < ¥202.3B Historical events that allowed us to draw this conclusion

21 Jul 09:50	16 Jun 09:50
21 Jan 10:50	16 Dec 10:50
19 Oct 10:50

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