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There is a 71.43% chance of USDCAD trending downwards

Based on the last 12 GDP Growth Rate QoQ 2nd Est events in United States, we expect USDCAD to trend downwards later today. Based on these past events there is a 71.43% chance of this. We expect USDCAD to trend downwards 48 hours following the event release at 2023-02-23 13:30 if the released value is < 2.9%. A price movement of 134 pips is expected. Historical events that allowed us to draw this conclusion

26 May 12:30
27 May 12:30
25 Nov 13:30
28 May 12:30

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

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