We expect USDCAD to trend downwards later today. Based on these past Canada Ivey PMI s.a news events there is a 87.5% chance of this. We expect this to happen if the released value is > 55. A price movement of 51 pips is expected.
Historical events that allowed us to draw this conclusion
07 Sep 14:00 |
07 Jun 14:00 |
04 Mar 15:00 |
04 Feb 15:00 |
07 Dec 15:00 |
07 Oct 14:00 |
08 Sep 14:00 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
