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We expect USDCAD to trend upwards today with a 75% chance.

Based on the last 12 Ifo Business Climate events in Germany, we expect USDCAD to trend upwards later today. Based on these past events there is a 75% chance of this. This will happen if the released value is < 95.1 Historical events that allowed us to draw this conclusion

25 Jul 08:00
23 May 08:00
24 Apr 08:00
18 Dec 09:00
26 Nov 09:00
25 Oct 08:00

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

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