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

Based on the last 12 Inflation Rate YoY events in United Kingdom, we expect USDCAD to trend downwards later today. Based on these past events there is a 75% chance of this. This will happen if the released value is = 1.8%

Historical events that allowed us to draw this conclusion

19 Jun 08:30
16 Jan 09:30
19 Dec 09:30

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

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US30 has broken through support of a Rising Wedge. It has touched this line at least twice in the last 7 days.

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We expect a 31 pip movement on USDCAD within 4 hours following the event release.

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