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We expect USDCAD to trend downwards today with a 87.5% chance.

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”).

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