Based on the last 12 Inflation Rate YoY events in Canada, we expect USDCAD to trend upwards later today. Based on these past events there is a 75% chance of this. We expect USDCAD to trend upwards 48 hours following the event release at 2023-03-21 12:30 if the released value is < 5.4%. A price movement of 108 pips is expected. Historical events that allowed us to draw this conclusion
21 Feb 13:30 |
17 Jan 13:30 |
20 Sep 12:30 |
All references to movement sizes are expressed assuming a lot size of 100,000 units (“standard account”).
