Based on the last 12 Westpac Consumer Confidence Index events in Australia, we expect AUDUSD to trend upwards later today. Based on these past events there is a 80% chance of this. We expect AUDUSD to trend upwards 4 hours following the event release at 09 Dec 10:30 if the released value is > 105. A price movement of 26 pips is expected.

Historical events that allowed us to draw this conclusion

14 Oct 10:30	09 Sep 10:30
10 Jun 10:30	12 Feb 10:30

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