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We expect a $341 movement on USDCAD within the next 48 hours.

Based on past United States Durable Goods Orders MoM news events there is a 71.43% chance of USDCAD trending downwards. We expect this to happen because the released value is > 1%. A price movement of 46 pips is expected.

Historical events that allowed us to draw this conclusion

26 May 12:30
26 Jan 13:30
23 Nov 13:30
27 Sep 12:30
27 Jul 12:30

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

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