Based on the last 12 Balance of Trade events in Japan, we expect a $156.663 movement on USDCAD within 4 hours following the event release at 20 May 09:50. We expect USDCAD to trend downwards 4 hours following the event release at 20 May 09:50 if the released value is > ¥140B

Historical events that allowed us to draw this conclusion

19 Apr 09:50	17 Feb 10:50
18 Nov 10:50	16 Sep 09:50

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