Based on the last 12 Inflation Rate YoY Prel events in Germany, we expect USDCAD to trend downwards later today. Based on these past events there is a 80% chance of this. We expect USDCAD to trend downwards 48 hours following the event release at 2023-05-31 12:00 if the released value is < 6.5%. A price movement of 161 pips is expected. Historical events that allowed us to draw this conclusion
28 Apr 12:00 |
09 Feb 07:00 |
03 Jan 13:00 |
29 Nov 13:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
