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There is a 80% chance of RU trending downwards

Based on past United States Existing Home Sales news events there is a 80% chance of RU trending downwards. We expect this to happen if the released value is > 5.37M. A price movement of 0 pips is expected.

Historical events that allowed us to draw this conclusion

21 Aug 14:00
22 Mar 14:00
19 Dec 15:00
21 Nov 15:00

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

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We expect USDCAD to trend upwards today.

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