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We expect USDCAD to trend downwards today.

We expect USDCAD to trend downwards later today. Based on these past Australia Westpac Consumer Confidence Index news events there is a 66.67% chance of this. We expect this to happen if the released value is < 85. A price movement of 64 pips is expected. Historical events that allowed us to draw this conclusion

15 Jun 00:30
11 May 00:30
08 Mar 23:30
08 Feb 23:30
18 Jan 23:30
13 Oct 00:30

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

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We expect a 1275 pip movement on S within 4 hours following the event release.

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