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We expect USDCAD to trend upwards today with a 75% chance.

Based on the last 12 Inflation Rate YoY events in Canada, we expect USDCAD to trend upwards later today. Based on these past events there is a 75% chance of this. We expect USDCAD to trend upwards 48 hours following the event release at 2023-03-21 12:30 if the released value is < 5.4%. A price movement of 108 pips is expected. Historical events that allowed us to draw this conclusion

21 Feb 13:30
17 Jan 13:30
20 Sep 12:30

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

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