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We expect USDCAD to trend downwards right now.

Based on the last 12 Balance of Trade events in Canada, USDCAD could experience an downwards trend. Based on these past events there is a 71.43% chance of this, and the trend could last 4 hours because the released value is > C$0.8B.

Historical events that allowed us to draw this conclusion

07 Mar 13:30
05 Oct 12:30
06 Sep 12:30
07 Jun 12:30
04 May 12:30

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

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