Based on the last 12 ISM Manufacturing PMI events in US, we expect USDCAD to trend down later today. Based on these past events there is a 83.3% of this.
We expect USDCAD to trend down 4 hours following the event release at 01 Nov 14:00 if the released value is < 59. A price movement of 17 pips is expected.
Historical events that allowed us to draw this conclusion
01 Oct 14:00 |
01 Aug 14:00 |
01 May 14:00 |
01 Dec 15:00 |
01 Nov 14:00 |
* All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”)
