We expect a $110 movement on USDCAD within 2 hours following the release of RBA Interest Rate Decision.

Based on the last 12 RBA Interest Rate Decision events in Australia, we expect a 15 pip movement on USDCAD within 2 hours following the event release at 2023-02-07 03:30. We expect USDCAD to trend downwards 2 hours following the event release at 2023-02-07 03:30 if the released value is = 3.35%

Historical events that allowed us to draw this conclusion

01 Nov 03:30

05 Jul 04:30

05 Apr 04:30

01 Mar 03:30

01 Feb 03:30

07 Dec 03:30

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