Why you should close your USDCAD positions today

Be very careful of upcoming volatility because of Australia RBA Interest Rate Decision news event later today. Based on the last 12 RBA Interest Rate Decision events in Australia, we expect a $310.866 movement on USDCAD within 12 hours following the event release at 04 Dec 03:30. We expect this to happen if the released value is = 1.5%. A price movement of 41 pips is expected.

Historical events that allowed us to draw this conclusion

06 Nov 03:30
02 Oct 05:30
04 Sep 05:30
07 Aug 05:30
05 Jun 05:30
01 May 05:30
05 Dec 03:30
07 Nov 03:30

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

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